Chinese shipowners account for over 65% of the orders placed at domestic shipyards. In its latest weekly report, shipbroker Xclusiv highlighted that Chinese shipyards remain at the core of the global newbuilding landscape, securing the vast majority of bulk carrier and tanker orders. Out of 1,375 global bulk carrier orders, Chinese shipyards are constructing 939, representing 68% of the total. Similarly, of the 1,203 tanker orders globally, China is building 827, accounting for 69%. This not only demonstrates China's unparalleled shipbuilding capacity and price competitiveness but also reflects its strategic focus on safeguarding the security of maritime supply chains.
According to Xclusiv analysis, among the 377 bulk carrier orders from Chinese shipowners, Supramax (110 vessels) and Kamsarmax (130 vessels) dominate, together accounting for nearly two-thirds of their dry bulk orders. Additionally, there are 41 Handysize bulk carriers and 23 small bulk carriers. The inclusion of 18 Very Large Ore Carriers (VLOC) and 29 Newcastlemax orders indicates Chinese investors are reallocating capacity for long-haul iron ore imports from Australia and Brazil. In contrast, the relatively smaller Panamax and Post-Panamax fleets reveal a distinct dual strategy: deploying smaller, agile vessels for domestic and intra-Asian trade while utilizing giant carriers to secure raw material imports.
Notably, even Japanese shipowners, traditionally known for their conservative and quality-focused approach, are increasingly placing orders with Chinese shipyards. Japan's 96 bulk carrier orders in China are led by 35 Supramax and 35 Kamsarmax vessels, supplemented by 16 Handysize and 10 Newcastlemax vessels. This configuration reflects both Japan's traditional strength in medium-sized specialized bulk carriers and a quiet shift of orders to China due to tight domestic capacity and high costs. For both China and Japan, the Supramax/Kamsarmax segment remains the core battleground, with approximately 470 vessels collectively representing half of China's new bulk carrier orders.
A similar pattern emerges in the tanker market. Of the 827 tanker orders at Chinese shipyards, Chinese shipowners account for 200 vessels spanning all major types. The orderbook is dominated by smaller tankers—98 small tankers and 51 MR2 vessels—highlighting robust regional refined product trade and the continued expansion of China's independent refinery network. However, the 21 Aframax/LR2 and 15 VLCC orders also demonstrate Chinese energy companies' ambition to enhance long-distance crude transportation logistics and control domestic supply chains.
In contrast, Japanese shipowners have minimal tanker orders in China—just 13 vessels, including 5 VLCCs and 4 MR2s. This suggests Japanese operators prefer high-end, globally versatile designs where delivery timelines and cost advantages now outweigh loyalty to domestic yards. This trend aligns with Japan's growing adaptation to Chinese quality standards and recognition of China's competitive edge in large crude carrier construction.
The concentration of orders in medium-sized bulk carriers and product tankers reflects shipowners' pursuit of operational flexibility, financing efficiency, and environmental compliance. Meanwhile, Japanese shipowners are increasingly recognizing the advancements made by Chinese shipyards, showing a growing willingness to place orders. While Japan continues to uphold its standards of quality and precision, China has become the core driver of global production. The deepening collaboration between the two nations signals the dawn of a new era of industrial synergy, poised to reshape the landscape of the next wave of fleet renewal.
