Global trade receding? Tell that to shipbuilders

For all the discourse about globalized trade being past its peak, maritime volume data at the start of 2024 sure looks strong. And if reports from shipbuilding companies are any indication, the sector should continue its growth into the end of the 2020s and beyond. According to an article published last week by Yicai Global — an English-language news service under the umbrella of China's state-owned Shanghai Media Group — production schedules at most of the country's shipyards are booked through 2026. China's shipbuilding output has grown dramatically since the early 2000s, when it accounted for around 10% of the…