According to “Naftemporiki” sources, the Chinese received orders for a total of 428 ships, with a capacity of 10.43 million CGT in the first half of 2023. In other words, the Chinese are responsible for 59% of shipbuilding contracts in the first half of the year.
Based on the same sources, the Chinese’s major competitors, South Korean shipyards, secured orders for 114 ships, with a total capacity of 5.16 million CGT.
As the above sources explained to “Naftemporiki”, the average discount offered by the Chinese compared to the South Koreans in shipbuilding costs is close to 10%-12%.
Looking at the differences in prices by shipping market, it is pointed out that the discount range offered by the Chinese for tankers varies between 12%-20%. In LNG carriers the corresponding difference is 8%-10%. In container ships with a capacity of 16,000 TEUs, the difference is 3%-5% and in those with a capacity of 24,000 TEUs 8%-10%. It is noted that the Koreans prefer containerships of 16,000 TEUs instead of 24,000 TEUs. Regarding dry bulk carriers, the same sources pointed out that South Korean yards do not normally receive orders for such tonnage.
It is worth noting that average shipbuilding costs increased by 6% during the first half of this year, according to Clarksons Research’s half-yearly report.
