China’s grip on global shipbuilding is growing ever stronger, building a sizeable gap from second place, South Korea, with some warning the dominance the People’s Republic exerts in this construction sector could become an early target from the incoming Donald Trump administration in the US. At the start of the century, China accounted for less than 10% of global ship completions. Within 10 years, however, it had surpassed both Japan and South Korea to become the world’s top shipbuilding nation. Over the past 18 months it has noticeably stretched its lead at the top with many yards announcing plans to increase their capacity, while some mothballed shipyards have been reopened, notably Rongsheng, which by itself adds a full percent in terms of global shipbuilding capacity. Data from Xclusiv Shipbrokers shows that Chinese shipyards experienced a 17% year-on-year surge in new orders across the four main sectors – bulk carriers, tankers, gas, and containers – in the first 10 months of this year. This increased their market share to 74%, up from 63% in 2023’s orders. Chinese shipyards dominate the container and bulk carrier sectors in 2024, securing 90% of total container orders and 81% of total bulk carrier orders, according to data from the Greek broker. The tanker sector follows with 72% of orders placed in Chinese shipyards. In the gas sector, China maintains a significant 44% share. Data from Danish Ship Finance shows that China now controls 42% – or 24m cgt – of the global yard capacity, distributed between 140 yards, and has secured 57% of vessel capacity currently on order with South Korea clearly losing ground to China. Investors in Chinese orderbooks will be wary of falling foul of Trump’s hardline approach “China’s dominance in shipbuilding is set to continue,” states a recent report from Xclusiv. In 2026, for instance, 70% of bulk carrier vessels added to the fleet will be built in China. China’s market share in the tanker sector is also projected to increase to 67% China’s stranglehold in the ship construction sector is expected to be discussed early on when the new Trump cabinet assembles in Washington DC in the new year. South Korean shipyard stock rallied last week following Trump’s stated wish to strengthen relationships with South Korean shipyards. For several months, US shipbuilding unions have been pushing for punitive action to be taken against Chinese shipbuilders that they accuse of receiving unfair support from the Chinese state. “Investors in Chinese orderbooks will be wary of falling foul of Trump’s hardline approach towards Chinese business,” analysts at broker Braemar advised recently. The US Trade Representative (USTR) launched an investigation into China’s shipbuilding practices this April, with the outgoing Biden administration reacting to unions and bipartisan calls to clamp down on pricing policies for newbuilds constructed in the People’s Republic. A Chinese Commerce Ministry spokesperson dismissed the shipbuilding probe when it was announced, telling reporters in Beijing: “It lacks factual basis and goes against economic common sense to blame China for America’s own industrial problems.” Canada has also joined a growing chorus of shipyard nations taking aim at China. Colin Cooke, president and CEO, Canadian Marine Industries and Shipbuilding Association (CMISA), delivered a hard-hitting message to Ottawa earlier this year demanding that the Justin Trudeau administration enact tariffs against Chinese-built s