According to a NYK Line executive, U.S. allies Japan and South Korea would face difficulties in rapidly expanding their shipbuilding capacity to meet U.S. demand for alternatives under President Donald Trump’s proposed port fees on China-linked ships.
Japan’s shipyards are operating near full capacity, leaving little room for expansion until 2028, while shipbuilders in South Korea and the United States are grappling with financial constraints, said the Japanese shipping official.
China currently dominates the global shipbuilding market, accounting for over 50% of new shipbuilding orders by gross tonnage in recent years, bolstered by low labor costs, massive shipyard capacity, and significant government subsidies. Japan and South Korea, ranking third and second, respectively, together hold approximately 40% of the market.
This content is locked
Select a CN Premium Subscription Package To Unlock The Content!
