CSSC Research Center Reports 44.5% Drop in Global Ship Orders in 2025

The Economic Research Center of China State Shipbuilding Corporation (CSSC) reported a significant decline in global orders for new shipbuilding by deadweight, dropping by 44.5% for the period from January to October 2025.

The data was presented at the Marintec China 2025 maritime exhibition in Shanghai, where the corporation's deputy general director Zhao Tongbin spoke. According to him, the decline is attributed to overall economic difficulties as well as capacity constraints at shipbuilding yards.

Chairman of the Shanghai Society of Shipbuilding and Offshore Engineering, Xin Wenhua, expressed expectations that the total volume of transactions for 2025 will be “substantially lower” due to the aforementioned factors.

Managing Director of research company Clarksons Research, Steve Gordon, reminded that 2024 was the most successful year for orders in the last 16 years, noting that leading shipyards of shipping companies have order slots for large vessels filled until 2029 and beyond. Despite the downturn, the market remains one of the most active in recent times.

Clarksons Research forecasts that in 2025, the volume of global shipbuilding output will increase by 40% compared to 2020. China is expected to account for about 52% of ship production, South Korea for 27-28%, and Japan for 12-13%.

Particular attention is given to the container ship segment—the only category where order growth continues. Since the beginning of the year, 293 orders for small class container ships (up to 5000 TEU) have been placed, which accounts for more than half of all contracts for container vessels. Chinese shipowners hold about 41% of these orders (converted to TEU).

Order slots at Chinese shipyards are filled until 2028-2029, with some projects extending to 2030, indicating a sustained long-term demand for feeder vessels.