Chinese shipyards delivered 40% of newbuildings that entered service in the first half of 2011, at 30.1m dwt.
A total of 76.9m dwt of new vessels entered service between January and June, which on an annualised basis puts deliveries in dwt terms on track to beat the 150.6m dwt constructed globally in 2010, according to data from Clarkson Research Services in its latest World Shipyard Monitor report.
In comparison, last year Chinese yards accounted for 41% of total deliveries, taking market share from other Asian shipbuilding nations as a rapid expansion in its yard capacity came online, and pushing it up from second place in 2009 when it held just 31% market share of the 116.8m dwt constructed that year.
Despite having been knocked off the top spot as the world’s largest shipbuilding nation in 2009, South Korea has increased its market share in the year to date from 32% of 2010 deliveries to 34% in 2011 with 26.2m dwt.
South Korea also delivered tonnage with the greatest value at a total $22bn, compared to the $20bn value of ships constructed in China, both of which contributed to a global total of $55.7bn, down on an annualised basis compared to the $124.8bn worth of vessels that entered service worldwide in 2010.
Japanese yards have delivered 22% of newbuilding tonnage so far this year, at 16.4m dwt, the Clarksons data showed.
The report said that of China’s 3.6m dwt output in June, 59.8% of it was made up of bulk carrier deliveries. By comparison, South Korean shipbuilders delivered a greater variety of ship types, with bulk carriers only making up 36.8% of its dwt output.
China’s orderbook stood at 184.1m dwt at the end of June, worth $117.9bn, representing 43% of the total 428.9m dwt of contracted shipping tonnage worldwide.
By comparison, South Korea’s orderbook is lower at 139.9m dwt, or 33% of global orders, while Japan accounts for 66m dwt.
Meanwhile, only 36 tanker orders have been placed in the first half of 2011 (for vessels over 10,000 dwt), just 15% of the total 233 contracted last year.
And only 192 contracts for bulk carriers had been placed with shipbuilding yards, just 17% of the 1,085 ordered in 2010.
In contrast, LNG carrier orders jumped from just five in 2010 to 27 in the year to date, as rocketing charter rates and a small orderbook tempt owners to sign for newbuildings.