China accounted for 33% of new ship orders in October 2023

According to Clarksons data, China accounted for 33% of new ship orders in global markets in October this year; South Korea accounted for 62%.

Also in October 2023, new ship orders in global markets decreased by 42% on an annual basis and dropped to 2.50 CGT (million compensated gross tons).

Looking at the January-October 2023 period, a 24% decrease was recorded on an annual basis and 33 million CGT new ships were ordered. In this order, the share of Chinese shipping companies in new ship orders was 19 million CGT (57%) and the share of South Korean shipping companies in new ship orders was 8 million CGT (27%).