China is suggested to take a dominant position in the global shipbuilding market around 2030, while Korea would fall behind.
Lloyd's Register prospected in its 'Global Marine Trends 2030' report that China and emerging countries will begin to expand market share, while Korea's position will be risky.
Since China is expected to dominate in shipowning business, Chinese shipyards will get a benefit, with its annual new orders to increase up to about 28m-32m gt. According to Clarksons, China contracted a total of 63.5m gt in 2007 and marked the highest record, which plummeted to about 12.4m gt in 2012.
However, market shares of Korea and Japan will shrink from 34% and 21% in 2010 to 22% and 10% in 2030, respectively.
Meanwhile, in 2030, newbuilding delivery will grow compared to the amount of those currently delivered. However, only tanker segment will see shrinking delivery, but newbuilding market of the segment will be dominated by China, with 44-55%, and Korea at under 27%.