MK socks container ship with a capacity of 24,000 TEUs delivered by Hudong-Zhonghua Shipbuilding (Group) Co. Photo: Chinanews.com" src="https://www.globaltimes.cn/Portals/0/attachment/2024/2024-10-10/2625f77d-91d0-4399-9eca-e8be5bcfe52c.jpeg" />

The container ship with a capacity of 24,000 TEUs delivered by Hudong-Zhonghua Shipbuilding (Group) Co. Photo: Chinanews.com

Major indexes of China's shipbuilding industry rose steadily in the first three quarters of this year, data released by the Ministry of Industry and Information Technology (MIIT) showed on Thursday. China secured more than 70 percent of global green ship orders during the period, according to China Central Television (CCTV).

From January to September, China completed 36.34 million deadweight tons (DWT) of shipbuilding, up 18.2 percent year-on-year, while securing 87.11 million DWT in new orders, up 51.9 percent. As of end-September, orders on hand reached 193.3 million DWT, up 44.3 percent. 

China accounted for 55.1 percent of global ship completions, 74.7 percent of new orders and 61.4 percent of global orders on hand, according to the MIIT.

China captured more than 70 percent of global green ship orders in the first three quarters, covering all major vessel types. Eco-friendly technology, high-value ships and proprietary innovations have become key trends in the country's shipbuilding sector, CCTV reported.

China took the lead globally in new orders for 14 out of 18 major shipbuilding-related types, with shipyards exceeding their annual targets ahead of schedule amid rapidly growing market demand, according to CCTV.

"In the first three quarters, we received 40 billion yuan ($5.5 billion) in civilian orders, the highest in our history. With the current tech-driven market boom, we are highly optimistic about the future," said Lin Qingshan, deputy general manager of Jiangnan Shipyard Co.

"This success is attributed to China's strong capabilities and the country's rapid advancements in shipbuilding technology, especially in high-tech and green shipbuilding," Bian Yongzu, executive deputy editor-in-chief of Modernization of Management magazine, told the Global Times on Thursday.

Bian noted that another key factor is China's extensive and well-established supply chain, which supports the industry by ensuring timely deliveries and reducing costs. 

"This has significantly boosted the international competitiveness of China's shipbuilders," he said.