China's shipbuilding orders are scheduled through 2030, with a significant increase in steel demand

"Shipbuilding orders have already been scheduled through 2030, and the types of vessels have shifted from traditional bulk carriers to today's large VLCCs and 22,000-container ships," said Wei Jun, deputy general manager of a shipbuilding enterprise in Jiangsu. The company is operating at full capacity, production is approaching saturation, and steel consumption has risen sharply. Orders at several surrounding supporting steel mills are also fully booked, with some high-end specifications of steel plates now in short supply.