China extends its dominance in shipbuilding

China is solidifying its leadership in global shipbuilding, both domestically and abroad. Yangzijiang Shipyard has acquired a 34% stake in Tsuneishi Group (Zhoushan) Shipbuilding for $117 million. These companies have collaborated before, including at the Jiangsu Yangzi-Mitsui Shipbuilding yard.

Chinese shipbuilders now dominate globally, accounting for 55% of deliveries, 74.7% of new orders, and 58.9% of the global order backlog. Eleven Chinese shipyards plan to expand, potentially increasing capacity by 80% by 2027. This growing dominance has raised concerns in Europe, where the shrinking shipbuilding industry is viewed as a security risk.

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