CSSC shipyards show robust growth in 2024
Shanghai Shipyards Achieve Record Growth in 2024
In a remarkable display of growth and innovation, three shipyards based in Shanghai have made significant strides in the shipbuilding industry. According to their parent company, China State Shipbuilding Corp (CSSC), these shipyards delivered 69 vessels and secured new orders for 128 units in 2024. This impressive performance marks a year-on-year growth of 19 percent in deliveries and a staggering 70 percent increase in new orders. The shipyards are focusing on medium to high-end models, with over 20 billion yuan (approximately $2.74 billion) worth of signed orders expected to be settled in renminbi. This solidifies China’s position as a global shipbuilding powerhouse, showcasing the country’s capabilities in meeting international demands.
Major Contracts and Innovations in LNG Carriers
One of the standout achievements of the Shanghai shipyards is the significant contracts awarded to Hudong-Zhonghua Shipbuilding (Group) Co Ltd. In April, the company signed a groundbreaking order with QatarEnergy to construct 18 super-large liquefied natural gas (LNG) carriers, each with a maximum capacity of 271,000 cubic meters. This order is notable for being the largest single order for LNG tankers in the world. Following this, another contract for six additional ships was signed on September 9, further establishing Hudong-Zhonghua’s dominance in the LNG carrier market amid fierce global competition.
In 2024, Hudong-Zhonghua achieved a record by delivering eight LNG carriers in a single year. One of the highlights was the early delivery of the 174,000 cubic meters LNG carrier, Greenergy Pearl, which was completed eight months ahead of schedule. Meanwhile, Jiangnan Shipyard (Group) Co Ltd also made headlines by delivering the nation’s first large-sized LNG carrier featuring Mark III technology. Named Al Shelila, this vessel was delivered two months ahead of schedule and is part of a six-ship order from Abu Dhabi National Oil Co Logistics and Services. Jiangnan Shipyard’s success in constructing LNG carriers equipped with the Mark III membrane system marks a significant milestone for the company and the industry as a whole.
Shanghai Waigaoqiao Shipbuilding Sets New Records
Another notable player in the Shanghai shipbuilding scene is Shanghai Waigaoqiao Shipbuilding Co Ltd. This shipyard recently achieved a historic milestone by becoming the first in China to surpass the 100 million deadweight ton (dwt) mark in total ships completed. This achievement was celebrated with the delivery of an FPSO (floating production, storage, and offloading) vessel named Jaguar to Netherlands-based SBM Offshore on November 14. The FPSO was the 22nd vessel delivered by Shanghai Waigaoqiao in 2024, allowing the shipyard to meet its annual delivery target one and a half months ahead of schedule.
As Shanghai Waigaoqiao celebrates its 25th anniversary this year, it has delivered a total of 579 ships and offshore platforms, amounting to 125.87 million dwt. This metric is crucial for measuring the transportation capacity of ships and serves as a global standard for assessing a shipbuilding company’s construction capacity. Since delivering its first ship on June 22, 2003, the shipyard has maintained an impressive annual delivery rate of 27 ships, or 4.76 million dwt. Additionally, the shipyard made headlines in 2023 by delivering the nation’s first domestically built large cruise ship, Adora Magic City. Currently, it is working on China’s second large cruise ship, Adora Flora City, which is expected to be completed by the end of 2026. General Manager Chen Gang has noted that the second ship will feature improved design and construction efficiency, reflecting higher quality and standards.
