Global Shipyards Received a Record Number of Orders in 2024

In its latest annual shipbuilding market report, the analytical bureau Clarksons Research stated that global shipyards received the highest number of orders in the past 17 years in 2024. In total, shipbuilding enterprises secured contracts for vessels with a tonnage of 66 million CGT and a total value of $204 billion. This included container ships with a capacity of 4.4 million TEU, gas carriers with a volume of 25.9 million cubic meters, and tankers with a total deadweight of 53.9 million DWT.

China once again took the leading position, accounting for two-thirds of the orders. Moreover, it was the only country among the top three that significantly expanded its production capacity.

The demand for new fleet construction in 2024 remained strong, driven by favorable freight markets and the "green transition."

Nine out of the top 20 container shipping operators placed orders for vessels with a capacity exceeding 12,000 TEU (with a total of 72% of the ordered TEU coming from liner operators). In total, container shipping companies invested approximately $38 billion in new orders.

There was also strong demand for gas carriers, with orders growing by 34% year-over-year. Companies placed orders for the construction of 77 large LNG tankers and 78 VLGC/VLAC/VLEC gas carriers. The number of tanker orders also increased by 41% in terms of deadweight.

European shipyards saw an increase in orders for large cruise ships (10 orders). Steady growth was also observed in the bulk carrier sector and other segments, including 69 car carriers, 19 C/SOV vessels, and 6 FPSOs.

The overall order book grew to 364.5 million DWT, amounting to 15% of the active fleet (for comparison, in 2008, these figures were 628.8 million DWT and 52% of the active fleet, respectively). However, the market continues to shift towards liners and gas carriers (container ships now account for 27% of the fleet, LNG carriers for 50%, and PCTC car carriers for 38%). The shares of bulk carriers (11%) and tankers (14%) remain low (only 5 VLCCs were delivered this year).

Half of the orders by tonnage for 2025 are tied to alternative fuels, with LNG prevailing.