China has officially taken over the global shipbuilding industry, grabbing a staggering 70.9% of the market share. In this annual review, Sal Mercogliano breaks down the latest findings from the 2026 BRS Shipbuilding Report to reveal how South Korea, Japan, and the West are falling behind, and what this means for the future of global trade.

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00:00 – Annual Shipbuilding Review & The BRS Report
00:41 – China’s Massive 70.9% Market Dominance
01:34 – The Decline of South Korea, Japan, & Europe
02:34 – A Tale of Two Halves: 2025 Market Rebound
04:21 – Historical Context: Deliveries vs. Demolitions
05:18 – Global Fleet Breakdown: Dry Bulk, Liquid, & Containers
07:44 – New Orders: The Rise of VLCCs & Container Ships
08:18 – Dry Bulk Market: China vs. Japan
09:44 – Tanker Sector: Sophistication Levels & Global Shift
11:24 – Container Ships: The Ultra-Large Behemoths
13:40 – Specialized Vessels: LNG, LPG, & Car Carriers
14:31 – Scrapping Trends: Why Old Ships Aren’t Heading to Scrap
15:29 – New Build Pricing: Inflation & Rising Construction Costs
18:40 – China Expansion and Top 10 World Shipyards by Order Book
21:06 – South Korea’s Strategy: Consolidation & Overseas Growth
22:32 – Japan’s Struggle: Aging Infrastructure & Labor Supply
24:19 – Europe’s Position: Italy, Germany, & France Breakdown
25:08 – Rest of the World: Vietnam & Philippines Rising
25:48 – U.S. Outlook: The Philly Hanwha Rebound
26:17 – 2026 Predictions & The Shipbuilding Supercycle
29:08 – Summary

BRS Annual Reports
https://brsshipbrokers.com/publications

The Geography of Transport Systems

The Geography of Transport Systems

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