Global newbuilding orders fell sharply in May 2026 from the previous month, although year-on-year demand remained higher, according to monthly shipbuilding data released by Clarksons on 9 June 2026.
Worldwide new ship orders reached 4.5 million CGT across 147 vessels in May. This was down 45% from 8.2 million CGT in April, a decline of 3.7 million CGT. Compared with May 2025, when orders stood at 2.4 million CGT, the latest figure was up 91%.
China and South Korea continued to dominate the market. Chinese shipbuilders won 2.1 million CGT across 97 vessels, taking a 47% share. South Korean yards secured 2.0 million CGT from 34 vessels, equal to a 44% share.
The gap between the two countries narrowed significantly in May. In April, Chinese yards had booked 4.4 million CGT and held a 67% share, while South Korean yards recorded 1.1 million CGT and a 13% share. In May, the market-share difference between the two fell to just 3 percentage points.
For January-May 2026, global newbuilding orders totaled 33.6 million CGT across 1,108 vessels, up 62% from 20.7 million CGT and 863 vessels in the same period of 2025. Chinese yards secured 23.0 million CGT, representing a 68% share and a 103% year-on-year increase. South Korean yards booked 7.1 million CGT, equal to a 21% share and an 84% rise from a year earlier.
As of 31 May 2026, the global newbuilding orderbook stood at 202 million CGT, up 3.8 million CGT from the previous month. Chinese shipbuilders held 129.4 million CGT, or 65% of the total, while South Korean yards held 37.1 million CGT, or 19%.
China’s overall orderbook share rose by 1 percentage point from the previous month. South Korea’s share remained unchanged.
The Clarksons Newbuilding Price Index reached 185.0 at the end of May 2026, up 1.6 points month-on-month. Compared with 136.1 in May 2021, the index was about 36% higher, showing that newbuilding prices continued to follow an upward trend.
Indicative prices also remained high across major vessel segments. A 174,000 m³ LNG carrier was priced at about $248.5 million, a VLCC at about $130.5 million, and a 22,000-24,000 TEU container ship at about $261.5 million.
