China’s shipbuilding sector is sailing full steam ahead, smashing records in the first half of 2024! 🌊 New data from the Ministry of Industry and Information Technology reveals jaw-dropping growth: 18.4% surge in completed projects and a 43.9% explosion in new orders compared to 2023. 📈
With 74.7% of global new orders landing in Chinese shipyards (up from 66.6% last year), the country now builds over half the world’s commercial vessels. 💪 The order backlog? A Titanic-sized 171.55 million deadweight tonnes – enough ships to circle the equator twice! 🌐
“The ship price index hit its highest since 2008,” says CANSI expert Cao Bo, as maritime trade rebounds despite global economic headwinds. 💰 Major ports like Ningbo-Zhoushan and Guangzhou are flexing too, moving 708 million tonnes of cargo (+4.2%) and 12.21 million containers (+6.3%) respectively.
Why does this matter? 🧐 Ships carry 95% of China’s foreign trade, and with 1/3 of global shipping now Chinese-operated, this industry isn’t just building boats – it’s steering the world economy. 🧭
