Chinese Offshore Yards Expand into Commercial Shipbuilding

Chinese offshore shipyards are increasingly entering the commercial shipbuilding market due to capacity constraints at mainstream yards. Jiangsu Dajin Heavy Industry Co., Ltd, a subsidiary of Bestway Marine & Energy Technology, recently secured orders for five vessels, including three 64,500 DWT Ultramax bulk carriers, marking its first foray into dry bulk newbuilding. Similarly, Qidong COSCO Shipping Offshore won its first crude tanker contract for two Panamax tankers, while 大金重工股份有限公司 secured multiple Newcastlemax bulk carrier orders. CIMC Pacific Offshore and Shandong Land-Sea Equipment Group are also expanding into feeder containerships and multipurpose vessels, respectively. This shift reflects tight capacity at top-tier commercial yards, many booked through 2029 or 2030, prompting shipowners to consider offshore yards for 2028 deliveries. While offshore yards are not replacing established commercial yards in high-barrier segments, they are increasingly taking on standardized vessels, redrawing China's shipbuilding capacity landscape.