China’s dominance in the global shipbuilding arena is clear. The nation leads the industry in terms of output, new contracting, and orderbook size.
Thanks to the extra capacity from expansion of several yards and increased process efficiencies, Chinese shipyards secured 96.6 million GT in newbuilding orders in 2024 – capturing a world market share of 70.9%. This influx has boosted the total orderbook to 163.5 million GT, representing 62% of the global market as of the end of 2024.
Since the current shipbuilding super cycle took off in 2021, LR’s orderbook in China has grown steadily, with 685 ships amounting to 36.3 million GT across 68 shipyards as of end-2024. Notably, approximately 85% of these projects have been commissioned by non-Chinese clients, underscoring global confidence in China’s shipbuilding prowess.
To meet the evolving needs of its international clients, LR has recently established a dedicated Foreign Shipowner Team based in Shanghai. This strategic initiative is designed to provide enhanced support for non-Chinese clients investing in new construction projects within China.
Sherry Li, LR’s Global Head of New Construction, said: “We are continuously looking into how to better support our clients with our technical expertise and global resources. LR has the largest market share of the Chinese orderbook and fully understands our international clients’ challenges and expectations when building ships in China.
“We are not only relocating expats to China to provide additional local contacts for clients’ project teams, but also bringing experienced plan approval specialists and site surveyors from Asia to Europe to facilitate face-to-face local technical discussions before contracting and during new construction stage.”
Shipowner support
The dedicated team is strategically positioned to provide non-Chinese shipowners with a permanent resource in this key shipbuilding nation. Their focus is on delivering long-term, sustainable solutions that ensure the seamless execution of projects.
The team plays a critical role in addressing complex technical challenges, supporting newbuilding decisions under tight deadlines, and assisting shipowners in exploring new business models within China’s shipbuilding industry. The team helps to provide:
- Collaboration between key stakeholders to ensure alignment and smooth project execution
- Technical support and investigation to proactively resolve challenges
- Owner-focused recommendations and feedback to drive continuous improvement
By combining technical expertise with strategic insight, the team helps shipowners navigate their newbuild projects efficiently, safely, and successfully from inception to completion.
Meet the team
Dimitrios Chalas, Foreign Shipowner Team Manager
Dimitrios brings rich experience working with shipowners and ship management companies across a diverse range of vessel types. He leads the team with a wealth of knowledge, ensuring a positive customer experience as he continues to build long-term client relationships. Dimitrios’ newbuilding, regulatory, operational, legal, financial, technical and leadership background is coupled with deep knowledge and understanding of the biggest shipbuilding nation with more than a decade of cooperation with key stakeholders on both newbuilding and existing ships segments.
Richard Welch, Foreign Shipowner Technical Support Manager
Richard was the lead surveyor for the first cruise ship to be built in China at Shanghai Waigaoqiao Shipbuilding. His extensive experience across multiple LR offices has equipped him with a robust technical background and the essential skills for this role. He serves as the primary liaison within the team, providing critical technical support for new construction projects in China. Richard’s regulatory experience, in conjunction with his strong newbuild background, enables him to focus on the root causes of problems, identifying practical and sustainable solutions.
Arpita Mukherjee, Commercial Business Support Manager
With a diverse background in roles both within and outside the shipping industry, Arpita brings a unique analytical and methodical approach to the team’s operations. Her strategic oversight and data-driven decision-making are instrumental in optimising resources for new construction projects.
LR’s proactive approach to establish this new team reinforces our commitment to supporting international clients in navigating the challenges of newbuilding investments in China and bridges the cross-continental divides offering sustainable, innovative and practical solutions benefiting foreign shipowners and shipbuilders alike.
