Over 60% of the world’s ship repairs are carried out in China: The ship repair industry is leading the world.
On January 9, 2026, the 95th meeting of China’s ship repair enterprise SPCC was successfully held in Jiangyin, Jiangsu Province. The meeting was co-chaired by Li Zhengjian, Executive Chairman of SPCC, and Li Hao, the rotating chairman for the 95th session and Deputy General Manager of CSSC Chengxi Shipbuilding & Repair Co., Ltd. Representatives from all member units attended the meeting. Centered on concluding the year’s activities, the meeting focused on discussions and assessments of topics including the 2025 ship repair market performance, changes in industry structure, progress in green transformation, and enhancements in equipment capabilities. The meeting sent a clear signal: China’s ship repair industry continues to maintain its position as a global leader in terms of scale and competitiveness, and is accelerating its transition toward green and high-value-added sectors.

                                                                                           Ship repair volume hits a historic milestone of over 45 billion yuan: Scale, market share, and quality all showing strong growth.

In 2025, China’s ship repair industry achieved breakthroughs simultaneously along two key tracks: “steady growth” and “improved quality.” According to exchanges among SPCC member companies and data analysis, the industry’s total ship repair volume for the year exceeded 45 billion RMB—a historic milestone—representing an increase of approximately 13.5% over the previous year. This growth is not driven by short-term fluctuations but rather reflects the cumulative effects of continuous improvements in industry supply capacity, delivery efficiency, customer structure, and business mix, demonstrating a dual enhancement in both the buoyancy of the ship repair market and the operational resilience of enterprises. More importantly, China’s leading position in ship repair extends beyond sheer scale. In the global competitive landscape, China’s ship repair sector continues to leverage its advantages as a major player: measured by the number of vessels completed, China’s share of global ship repairs surpassed 64% in 2025. Against the backdrop of ongoing uncertainties in the international shipping market and rising sensitivity among shipowners to costs and delivery schedules, this market share underscores that Chinese ship repair still enjoys clear advantages across multiple dimensions—including price, efficiency, quality, and service systems—and is further solidifying its global order book through stronger engineering organizational capabilities and more mature retrofit technologies. Meanwhile, the industry’s underlying value remains stable. The conference noted that the median value per vessel reached 6 million RMB—a figure that sends a positive signal: as order structures evolve and production capacity is gradually released, the industry has avoided falling into the trap of “volume-for-price” competition. Instead, it is placing greater emphasis on maintaining stable output levels per vessel to support sustainable growth, thereby laying a solid foundation for the next phase of upgrading toward higher-tech, higher-value-added ship modifications.

                                                                                                  Milestone: COSCO SHIPPING Heavy Industry’s output value exceeds 10 billion yuan for the first time, achieving a dual breakthrough in both output value and number of vessels.

During this conference, one milestone that was repeatedly emphasized was that COSCO SHIPPING Heavy Industry, as a single domestic ship repair group, has for the first time achieved an output value exceeding 10 billion yuan—and simultaneously realized a “double breakthrough” in both output value and the number of completed vessels. This not only reflects the company’s own operational strength but also underscores the growing concentration within China’s ship repair industry and the accelerating formation of robust capability systems among leading enterprises. From order acceptance to production scheduling, from project organization to quality control, from customer service to supply chain assurance—companies with stronger comprehensive capabilities are better positioned to deliver large-scale, high-quality results even in complex market environments. From an industry perspective, the emergence of “ship repair groups with output values in the tens of billions” carries landmark significance. It signifies that China’s ship repair industry is no longer just capable of “repairing more ships,” but can also “repair ships well, repair expensive ships, and repair challenging ships.” In business scenarios where environmental retrofitting, energy-saving modifications, structural repairs, major overhauls, and complex engineering projects run concurrently, leading enterprises, through continuous investment in technology, management, and digitalization, are transforming ship repair—from a traditionally labor-intensive business into a comprehensive service industry centered on technological prowess, engineering management, and delivery reliability. Even deeper still, the scale-driven breakthroughs of these leading enterprises will, in turn, drive the industry’s standards, talent development systems, supply chain collaboration, and investments in green equipment to new heights. As these leading groups establish stronger bargaining power and customer loyalty in the market, the industry will be better equipped to shift from “fragmented competition” toward “collaborative capability,” and from “isolated breakthroughs” to “system-wide upgrades.”

                                                                                                    Green ship repair is gaining momentum rapidly: The share of water-based services reached 62.04%, representing a year-on-year increase of approximately 20%.

The green transition has become a key factor driving the enhancement of China’s ship repair competitiveness. According to information disclosed at this conference, the proportion of water-treatment services in green ship repair has reached 62.04%, representing an increase of approximately 20% year-on-year. This structural shift indicates that demand for environmental compliance, green construction methods, and supporting services is rapidly growing. Shipowners’ acceptance and preference for green ship repair have significantly increased, while domestic ship repair enterprises are also developing more mature and large-scale green-operation capabilities. Behind the rising share of water-treatment services lies the industry’s genuine progress—from conceptualizing “green ship repair” to its practical, engineering-based implementation. Green ship repair is not merely about making environmental investments; rather, it is a comprehensive systems engineering effort that permeates every aspect of the process—including technological pathways, equipment capabilities, on-site management, waste disposal, risk control, and acceptance criteria. The simultaneous rise in both share and growth rate suggests that companies are not only doing more in the green business segment but also doing it more smoothly, faster, and more reliably—enabling them to strike a replicable operational balance between regulatory pressures and cost constraints. Looking ahead over the longer term, the expansion of green businesses will bring even deeper industrial transformations. As global shipping decarbonizes and regulations become increasingly stringent, future competition among ship repair enterprises will increasingly hinge on their capabilities in green retrofitting, environmentally friendly processes, and data-driven management. Those who can establish “standardized capabilities” in terms of efficiency and controllability in green operations will be better positioned to secure international orders and build stronger reputational barriers in the eyes of global clients.

                                                                          CSSC Chengxi Releases “Proactively Pursuing Progress and Looking Toward the Future”: Focusing on Green and Low-Carbon Retrofitting and Ten Specialized Fields.

At the meeting, Li Hao, Deputy General Manager of CSSC Chengxi, delivered a keynote report titled “Proactively Pursuing Progress and Looking Toward the Future,” systematically outlining CSSC Chengxi’s strategic path from three perspectives: enterprise development, capability building, and future strategy. The report pointed out that since its establishment in 1973, CSSC Chengxi has steadily grown and expanded, having built four major production bases and now covering three key sectors: shipbuilding and marine industries, emerging industries, and marine services. This diversified business portfolio enables CSSC Chengxi to not only excel in its core ship repair business but also to demonstrate stronger industrial synergy and greater resilience against economic cycles, providing a solid foundation for continued investment in ship conversion, upgrading, and green transformation. Regarding its core ship repair business, the report emphasized that, thanks to its established brand reputation, outstanding ship conversion capabilities, and dual innovation in technology and management, CSSC Chengxi has secured a leading competitive edge in the international ship repair market. Currently, the logic of competition in the ship repair market is shifting: customers no longer focus solely on price; instead, they place greater importance on delivery reliability, conversion capabilities, and compliance with green standards. CSSC Chengxi’s competitive advantage lies precisely in the combination of “conversion capabilities + management system + green practices”—a combination that is also the key reason behind its sustained competitiveness in the global market. Looking ahead, CSSC Chengxi clearly stated that it will seize market opportunities, leverage its technological reserves across ten specialized ship conversion fields, and focus on green and low-carbon ship conversions. It will continue to strengthen technological expansion and research efforts, while working closely with industry partners to create new chapters of growth and development. In other words, the company’s next-stage strategic focus will not be simply expanding production capacity, but rather deepening and strengthening its conversion capabilities, and making green and low-carbon ship conversions into a sustainable, replicable, and scalable core competency.

                                                                                           Li Zhengjian’s EO Report: Data sharing is forming an industry “consensus foundation,” and we look forward to more exclusive insights.

In the EO report, SPCC Executive Chairman Li Zhengjian recognized the contributions made by CSSC Chengxi—acting as the leading unit of the Society’s Ship Repair Technical Committee—and COSCO SHIPPING Heavy Industry—serving as the leading unit of the Association’s Ship Repair Branch—in releasing annual analyses and providing industry leadership. He pointed out that the shared reports from these two organizations are based on data analysis derived from contributions by all SPCC member units, enabling a more comprehensive and authentic reflection of the industry’s operational status and structural changes. This also highlights the institutional advantages that member units have developed in terms of integration and knowledge sharing. The value of this “data consensus” lies in the fact that it provides verifiable evidence for the industry to assess the market, allocate resources, and optimize its structure. The ship repair industry is characterized by the overlapping cycles of order intake, pricing, and production capacity. Without an effective data system, companies easily fall into judgment biases driven by “each acting independently.” However, the shared data and analytical framework established under the SPCC mechanism enable member units to reach a consistent understanding of key trends, thereby fostering more effective collaborative efforts across the industry in areas such as green development and intelligent, integrated information technology. At the same time, Li Zhengjian expressed his hope that member units will contribute even more representative and exclusive insights to the industry. This statement conveys a clear direction: As the industry shifts from competition based on scale to competition centered on capability, the “replicable output” of experience and methodologies will become increasingly crucial. Whoever takes the lead in accumulating and disseminating mature expertise in green construction methods, digital management, complex modification organization, and safety and quality system building will be better positioned to seize the initiative and gain a competitive edge in the next round of competition.

                                                                                                          Organizational Development and Agenda Promotion: New members join, and the team flag is smoothly handed over.

The meeting approved the application of Weihai Maple Heavy Industry Co., Ltd. to join the Ship Repair Periodic Coordination Conference (SPCC), marking a further expansion of the SPCC’s membership. This expansion in membership not only represents an increase in the number of participants at the organizational level but also signifies a stronger industry-wide collaborative network and a richer data sample base, which will help foster more representative industry analyses, more widely applicable standard systems, and enhanced capacity for jointly advancing key issues in the future. At the same time, the meeting held an in-depth discussion on the proposal to establish an Assistant to the EO (Executive Chairman), reflecting that the SPCC is undergoing increasingly refined optimization of its organizational operating mechanisms. For a platform whose core functions revolve around industry collaboration, data sharing, and issue promotion, organizational capability itself is a crucial source of both efficiency and influence. The more robust the mechanisms, the better the SPCC can translate member consensus into industry-wide actions and turn those actions into greater external influence and market competitiveness. In addition, the 94th SPCC rotating chair, Shanghai China Resources Dadao Shipping & Engineering Co., Ltd., provided a detailed briefing on the “Investigation Report on Organic Silicone Paints vs. Conventional Antifouling Paints,” offering valuable insights for balancing process selection, operational organization, and cost efficiency. At the conclusion of the meeting, the SPCC flag was officially handed over to the next rotating chair, Wanbang Heavy Industry (Zhoushan) Co., Ltd., ensuring a smooth transition of rotating responsibilities and injecting new momentum into the next phase of industry issue promotion and platform operations.

                                                                                            Xinde Maritime Network’s commentary: Shifting from “number one in scale” to “number one in system and green initiatives.”

Judging from the data and trends released at this conference, China’s position as the “world’s number one” in ship repair has gone beyond mere scale leadership. The total volume of ship repairs has surpassed 45 billion yuan, accounting for over 64% of the global market share; leading groups have seen their output exceed 10 billion yuan; the proportion of green businesses continues to rise; and green equipment is experiencing steady growth... Together, these indicators paint an even more compelling picture: China’s ship-repair industry is shifting from “scale leadership” toward “systemic leadership,” and from “traditional strengths” toward “green advantages.” In the future, competition in the ship-repair sector will increasingly hinge on capabilities in green and low-carbon retrofitting, complex engineering project management, delivery reliability, digitalization management levels, and supply-chain synergy efficiency. Whoever can build sustainable, systematic capabilities across these dimensions will be able to consistently secure high-end orders and boost profit margins amid the global shipping industry’s green transition and fleet renewal wave—and will be able to transform its “world number one” status from a mere market-share advantage into a more solid, value-driven edge. The significance of the SPCC platform lies precisely in turning fragmented industry practices into shared data and methodologies, and in converting individual enterprises’ efforts into collective industry progress. In an era when green and intelligent technologies are rapidly gaining ground, for China’s ship-repair industry to continue strengthening its global competitiveness, it needs not only continued breakthroughs by leading enterprises but also collaborative innovation and standardized advancement at the industry level. This year-end conference held in Jiangyin is a vivid embodiment of precisely this trend.

Reposted from Dexin Maritime