The centre of gravity in global shipbuilding has firmly shifted East. With China now holding well over two-thirds of the global newbuilding orderbook, and Chinese leasing houses aggressively filling the void left by traditional European ship finance, the maritime landscape has been fundamentally rewired.

However, for international shipowners—particularly those operating small to medium-sized fleets—navigating this booming, fast-paced market is no simple task. Yard slots are increasingly scarce, prices are volatile, and the cultural and technical nuances of dealing with local yards require deep, on-the-ground expertise. It is a market where capital alone is not always enough to secure a berth; relationships and local intelligence are paramount.

To understand how global owners are bridging this gap, we sat down with the team at HIT Marine. Established in Shanghai in 2001, this boutique shipbroking firm has quietly carved out a unique niche, acting as a trusted specialist advisor in an era increasingly dominated by massive, data-heavy mega-brokers.

Here, they share their candid insights on China’s shipbuilding dominance, the reality of securing yard space, and advice for owners currently sitting on the fence.

HIT Marine acts as a vital bridge between global owners and Chinese shipyards. With China now holding over two-thirds of the global newbuilding orderbook, what is the biggest cultural or technical “gap” you are currently helping international owners bridge in 2026?

HIT Marine: HIT Marine Company Ltd was established in Shanghai, China, in 2001. In the early stages, the company mainly provided services to a certain number of world-renowned shipowners as their representative office. Therefore, we accumulated a great deal of experience as owners’ “in-house brokers” when dealing with local shipyards. Later, we started to work as an independent shipbroker, providing services to international shipowners, mainly from Europe.

In shipbuilding circles, when we discuss the newbuilding orderbook, we mainly refer to three basic types of ships: bulk carriers, tankers, and containerships. Before 1985, China’s entire shipbuilding output was less than 3 million deadweight tonnes—less than a single South Korean shipyard’s output. However, since adopting the “Reform and Opening-up” policy in the 1980s, China’s shipbuilding industry has undergone fundamental changes in terms of capacity and technological advancement. China’s shipbuilding output overtook Japan in 2010 and South Korea in 2012. By 2024, the output of just one key shipbuilding town in China surpassed the entire output of Japan (as noted in the article “Elated Shipbuilders” by Xinde Marine).

In 2026 and onwards, China’s shipbuilding industry will continue to grow healthily and rapidly. For international shipowners looking for quality vessels, early deliveries, and reasonable prices, there are hardly any places or countries comparable to China.

We have seen the number of Chinese leasing houses offering USD financing nearly double in recent years. Do you believe these lessors are now the primary “engine room” of global maritime growth, effectively replacing traditional European ship finance?

HIT Marine: Most of China’s leasing houses emerged after the 2008 international financial crisis. Initially, their role was to fill the ship financing vacuum left by traditional European banks. However, while some expected Chinese leasing houses to retreat once the financial storm passed, on the contrary, they moved further into the international ship financing market. Many of these leasing houses were no longer content merely providing finance to earn a small portion of fixed income; they started placing newbuilding orders directly with shipyards, becoming financial shipowners, and some even established their own ship management teams.

Since China still holds more than 3 trillion USD in reserves, it obviously needs to find an outflow exit for these dollar reserves, and the shipbuilding industry happens to be one of the most appropriate channels for loaning that money out. Therefore, for the coming decades, China is undoubtedly a primary source of ship financing that no other country can match.

As one of the key ship financing brokers in China, we are now extremely busy with the increasing demand of ship financing inquiry from old and new customers. Comparing with the traditional bank debt financing scheme, our leasing offer  has three advantages,

1）Much higher leverage； 2) Competitive low margin；and 3) Very fast approval

With yard slots in China increasingly scarce and expensive, how is HIT Marine helping smaller, boutique shipowners compete for space against the “tier-one” liner giants?

HIT Marine: As a boutique shipbroking house in China with representatives in Singapore and Japan, we do not compete with the “big shops.” Instead, we provide services and consultancy to small and medium-sized shipowners who need our specific expertise. Indeed, since 2024, all Chinese shipyards—whether large or small-to-medium-sized—have had their orderbooks full until 2028 or even 2030. However, we can always find slot opportunities for serious buyers if they are truly ready to proceed.

As we head into the second half of the decade, the “ClarkSea Index” and “China Newbuilding Price Index” show high volatility. What is your advice to owners who are sitting on the fence—is now the time to lock in slots for 2029 delivery, or is a market cooling imminent?

HIT Marine: We are not purely shipbrokers; we also get involved in shipbuilding market research. All industry players are well aware that the international shipbuilding industry is hallmarked by two distinct features: “cyclicality” and “marketisation.” Cyclicality means the market moves upwards and downwards periodically, and marketisation means no government or individual can control it.

Apparently, we are currently on the high side of the market, but no one can predict exactly when the market changes will take place. In a high market, freight rates are high and financing is easier to secure. Conversely, in the trough of a market, ship prices are low, but freight rates are also low and it is difficult to find financing.

Our advice to “shipowners on the fence” is this: if you have surplus funds, go ahead and invest in familiar areas like shipping. No investments are entirely risk-free, but if ships are the assets you know well, and you are aware of these market features, you will not be far from a successful investment.

HIT Marine is a boutique firm in a world of “mega-brokers.” What is the strategic advantage of being a specialist advisor in a market that is increasingly dominated by massive, data-heavy corporate brokerages?

HIT Marine: As aforementioned, we at HIT Marine do not compete with the so-called “mega-brokers.” We have our own niche market where shipowners prefer our services for three key reasons:

• Confidentiality: We assign only one person in charge of a specific inquiry or client. Thus, we can keep information strictly confidential and private.

• High Efficiency: We visit shipyards often and maintain daily contact with them. We do not rely solely on heavy data because it can become outdated quickly; the shipbuilding market changes by the minute.

• Trustworthiness: We have long-standing relationships with shipyard personnel, from junior staff up to top-level management. Our relationship with shipyard staff continues long after a project has been completed.