The developments are further complicated by the impending imposition of U.S. duties on Chinese-built vessels approaching U.S. ports, a measure expected to
take effect in October and significantly burden international maritime transport.
Another factor that created the unstable environment was last year’s “explosion” of orders, which amounted to a total of 65.81 million CGT and 2,412 newbuild vessels,
a number that marked a 34% increase compared to 2023 and was the highest performance since 2007, while at the same time China and South Korea continue to dominate the market, but at a reduced rate of new contracts.
As reported by London-based Clarkson Research Services, global shipbuilding orders in August 2025 suffered a significant blow, as they decreased by 65% on an annual basis, to just 82 vessels, reaching 2.44 million compensated gross tonnes [Compensated Gross Tonnage (CGT) a special unit of measurement for shipbuilding work used to calculate the actual volume of work required to build a ship].
China took first place with 1.38 million CGT, while Korean shipyards recorded 560,000 CGT, resulting in the two countries holding a market share of 57% and
23% respectively.
On an eight-month level (Jan.-Aug.), global orders amounted to a total of 34.48
million CGT (1,912 vessels), marking a 14% decrease compared to the previous year.
In this context, Korea recorded 8.91 million CGT (251 vessels) with a 26% share, while
China recorded 13.96 million CGT (872 vessels) with a 40% share.
At the end of August, the global orderbook amounted to 164.9 million CGT, marking a decrease of 0.98 million compared to July.
China’s orderbook was 99.92 million CGT (61% of the total) and
Korea’s was 34.52 million CGT (21%).
Despite the overall volume decrease, South Korea maintained its competitive advantage by focusing on high-value vessels.
The average size of ships from South Korea was 70,000 CGT, almost triple the
24,000 CGT of China, showing a clear emphasis on liquefied natural gas (LNG) carriers and very large container ships.
According to indicative prices reported this week, a
174,000 cubic meter liquefied natural gas (LNG) carrier costs approximately $250 million, a VLCC approximately $126 million, and a 22,000-24,000 TEU container ship approximately $273 million.
Significant uncertainty in the shipbuilding market has also been caused by
U.S. President Trump’s decisions to impose service duties on Chinese-built ships sailing to American ports.
The regulation, which is being promoted through the U.S.
Trade Representative (USTR) anticipates the entry into force from October 14, 2025, following the completion of the public consultation period.
Until then, Chinese-built ships are not burdened with the anticipated “port
fees” (harbor dues) upon their approach to American ports, however from the fall charges are expected to be imposed.
The fee on Chinese-built ships that sail into American ports will be calculated based on the vessel’s capacity or the number of shipping containers being unloaded, depending on which amount is greater, starting from 18 US dollars per net ton or 120 dollars per container, and will increase annually every April until 2028, when it will reach 33 dollars per net ton or 250 dollars per container.
Concurrently, a service fee of 150 dollars per car equivalent unit will be established for vehicle carrier ships that have been built abroad.
Additionally, from April 2028, quotas will be placed on US liquefied natural gas (LNG) exports.
