China surpass Greece in newbuilding orders

Although Greek newbuilding orders remain among the highest, Chinese shipowners have surpassed Greeks in newbuilding orders, according to a new report by Xclusiv Shipbroking.

Xclusiv Shipbroking noted the ongoing competition between Greece and China across the four main vessel categories – bulkers, tankers, containers, and gas carriers.

China’s orderbook now leads with 544 orders, compared to Greece’s 525. Japan holds third place with 435 orders, predominantly bulkers and gas carriers.

The data shows increased trust between Japanese owners and Chinese shipyards, with Japanese orders to China nearly doubling in 2023. China’s metallurgical coal demand is expected to rise modestly in 2024, despite challenges in the property and infrastructure sectors.

Mongolia and Russia are projected to remain China’s main met coal suppliers in 2024, while US exports may increase due to infrastructure improvements. Australian exports have not fully recovered post-ban, and Canadian imports might decline due to lower production.