The global shipyard order book reached 203.2 million Compensated Gross Tonnage (CGT) as of 1 September 2026, marking a 13% increase from 180.0 million CGT a year earlier, according to BIMCO. The figure is slightly below the all-time high of 210.4 million CGT recorded in May but remains above the previous record of 195.4 million CGT set in 2008.
China continues to strengthen its position as the world’s leading shipbuilding nation, securing 74% of global CGT contracted over the past 12 months. Chinese shipyards now account for 64% of the global order book, compared with 19% for South Korea and 6% for Japan.
China’s dominance extends across the six major cargo-carrying ship segments: container ships, tankers, gas tankers, dry bulk carriers, other dry cargo vessels and roll-on/roll-off (RoRo) ships. Chinese shipyards hold more than 72% of the order book in each segment, which collectively represents 88% of global orders. Their strongest position is in container shipbuilding, with an 81% share of the global order book.
“Container ships dominate both the order book and its growth over the past 12 months. They account for 30% of CGT on order and 68% of the increase during the past year,” said Niels Rasmussen, Chief Shipping Analyst at BIMCO.
Chinese shipyards also have greater order book coverage relative to estimated annual capacity than their South Korean and Japanese counterparts. Based on the highest annual CGT output achieved between 2021 and 2025, Chinese yards hold orders equivalent to an average of 4.2 years of capacity, compared with 1.9 years for South Korea and 1.7 years for Japan.
Meanwhile, combined deliveries from China, South Korea and Japan, which peaked at 40.1 million CGT in 2025, are scheduled to rise to 55.9 million CGT in 2027 and 60.0 million CGT in 2028. Chinese shipyards face a particularly demanding schedule, with deliveries projected to reach a record 44.0 million CGT in 2028, nearly double the 22.7 million CGT delivered in 2025.
When capacity is measured against the highest annual CGT delivered or scheduled for delivery during 2021–2030, average order book coverage falls to 2.1 years for Chinese shipyards and 1.6 years for both South Korean and Japanese yards.
Rasmussen noted that Chinese shipyards must increase annual output to unprecedented levels to meet their delivery commitments. However, the capacity expansion required could increase the risk of underutilisation if new shipbuilding orders weaken in the future.
The figures underline China’s growing influence in the global shipbuilding industry while highlighting the production pressures and potential capacity risks associated with its expanding order book.