What is the development status of shipbuilding industry?

2. Market competition pattern of China's major shipping enterprises

Specifically looking at the Chinese market, from the group level, China's shipbuilding industry is mainly occupied by four shipbuilding groups, namely China State Shipbuilding Group, COSCO Shipping Heavy Industry, Jiangsu Yangzijiang Shipbuilding Group Co., Ltd. and Jiangsu New Era Shipbuilding Co., LTD., with a market share of more than 75% of the country's total. From the perspective of shipbuilding enterprises, the completion volume of China's top ten shipbuilding enterprises in 2020 will account for 73% of the total shipbuilding completion volume of the country, of which 5 shipping enterprises are subordinate companies of China State Shipbuilding Group.

6. Development trend of shipbuilding industry

90% of global trade is carried by sea, which is the most special and important part of the global transport system. Over the past decade or so, carbon emissions from shipping have shown a clear upward trend. According to the International Maritime Organization (IMO), global shipping accounted for 2.4% of global CO2 emissions in 2021. Under the requirement of carbon neutrality, the international shipping industry is facing increasing pressure on environmental protection, which will bring more demand for replacement in the medium and long term. Future carbon neutral ship types include liquefied natural gas (LNG), LPG and lithium, ammonia and hydrogen powered ships. Analysis of the status quo and development trend of global and Chinese shipbuilding industry in 2022, carbon neutrality brings ship replacement demand.