Xing Wenhua, Chairman of the Shanghai Association of Shipbuilding and Ocean Engineering, predicts that the overall transaction volume in the global new shipbuilding market is expected to see a significant decrease this year.

On December 1st, Xing Wenhua, Chairman of the Shanghai Society of Naval Architecture and Ocean Engineering, stated at the press conference of the 2025 China International Maritime Exhibition that due to the combined impact of shipbuilding capacity constraints and global economic uncertainties, the overall transaction volume in the global new shipbuilding market is expected to show a large decline this year. However, Xing Wenhua also pointed out that, from the perspective of future trends, factors such as the scrapping of old ships, the release of demand for green ship upgrades, and the short-term difficulty in significantly expanding high-quality shipbuilding capacity will continue to support the maintenance of historically high new ship prices. Many authoritative institutions predict that this current super cycle will continue for a long period.