Chinese shipyard market share falls amid US port fee concerns
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Update time : 2025-07-25 20:54:20
China’s shipbuilding market share dropped from 72% to 52% in the first half of 2025, according to a report by BIMCO, the world’s largest shipping association. The decline is linked to rising concerns over US Trade Representative (USTR) port fees on Chinese ships, which will take effect in October 2025. The fees will apply to both Chinese owners and operators, as well as ships built in China, though smaller Chinese-built ships and short-haul voyages may be exempted based on specific criteria.
Global newbuilding contracting, measured in Compensated Gross Tonnage (CGT), declined by 54% year on year. Contracting slowed for bulkers, tankers, and gas carriers due to weaker freight rates, while container and cruise ships saw increased demand.
South Korea surpassed China in crude tanker shipbuilding this year. However, labor shortages and rising costs challenge South Korea and Japan, while countries like the Philippines, Vietnam, the US, and India are making moves to grow their shipbuilding industries.
