China’s Association of the National Shipbuilding Industry (CANSI) reported last month that the country retained the top position in terms of shipbuilding market share. Data published by the Ministry of Industry and Information Technology in China stated that the country contributed 47.3% of global production, received 55.2% of new orders, and had 49% of existing orders. The rising global demand for ships helped boost this sector for China. South Korea has also received a good share of the market, making it world’s second-largest shipbuilding nation. "Now the shipbuilding industry has entered the recovery cycle, showing a steady upward trend," said Cao Bo, a researcher at CANSI. In addition, China’s share in global orders for green vessels increased by 24% in 2022, reaching 49% of global orders. According to Seatrade Maritime, Xue Guoliang, deputy director of technical division, DACKS, said that more clients were inquiring about methanol-fuelled vessels. “We have inked five super-large containerships order using methanol as fuel last year.” China has been the world’s leader in this sector for 13 consecutive years, according to country’s State Council. Six of its companies were among the top ten shipbuilders in the world. Hudong-Zhonghua Shipbuilding (Group) Co Ltd, a subsidiary of China's largest shipbuilding company, China State Shipbuilding Corporation, is one of the country’s largest shipbuilders. The existing orders on hand of Hudong-Zhonghua can keep the yard at full production till 2028, reports Seatrade Maritime.