The new shipbuilding market continues to be hot, with ship prices rising at a high level. Domestic shipyard orders are expected to be full as far as 2030.However, the industry is concerned about excessive expansion of shipyard production in the future, as well as difficulties in keeping up with the pace of shipyard delivery of supporting equipment from upstream host factories.

According to Clarkson's latest data, as of December 27th, the price of newly built container ships with a capacity of 13000 TEU/13500 TEU was $183 million,relativelyOn January 5th of this year, the value of the ship increased by 6% to $172 million, reaching its highest point since 2010.

According to Clarkson's report,In 2024, a total of 2342 ships with a total tonnage of 64.3m CGT and a total tonnage of 163.3m DWT were ordered in the entire market, with a contracted quantityReached the highest level since 2007.According to the shipbuilding group, China Shipbuilding Group has a total of 810 orders (30.3m CGT) in hand, followed bySouth Korean HD Hyundai 445 (19.5m CGT).

Among the three major shipbuilding companies in China, Hudong Zhonghua has delivered a total of 69 ships and received 128 new orders in 2024, an increase of 19% and 70% year-on-year, respectively. As of December, Hudong Zhonghua has 91 orders in hand, Jiangnan Shipbuilding has 99 orders, and Waigaoqiao Shipbuilding has 83 orders, indicating that Chinese shipbuilding companies have a clear advantage in orders.

However, the current number and production capacity of shipyards worldwide have significantly decreased compared to the previous wave of new shipbuilding cycles.

It is reported that global shipbuilding capacity reached its peak in 2011, but due to a long process of eliminating excess capacity in the shipping industry, production capacity decreased by 40% by 2020. However, Clarkson believes that in this ship cycle, there is no significant potential for capacity restart and expansion globally except for China.

In addition, as of December 27th, the steel composite index was reported at 128.7 points, a decrease of 14.54% from 150.6 points on January 2nd, which also means that shipyard profit margins are becoming larger.

Overall, based on the optimistic expectations of ship owners for the future and the trend of green and environmentally friendly development in the shipping industry, the demand for new additions and early updates of old ships in the shipbuilding sector continues to improve. And the shipyard is limited,The shipyard orders are full and have been scheduled as far as 2030, which is driving up ship prices at a high level.

Looking ahead to the future, it is expected that domestic shipyards will further expand their profit scale and profit margins by 2025, with some shipyards receiving higher priced orders for new ships to be delivered from 2026 onwards.

Article source: Financial industry, etc., compiled by Weiyun Network