Top 10 Largest Shipbuilding Companies in the World 2020

Top 10 Largest Shipbuilding Companies in the World 2020

Who are the top shipbuilding companies in the world? This is BizVibe's complete list of the biggest shipbuilding companies ranked by revenue and performance in the global market.

Rank
   
Shipbuilding companies
   
Revenue (USD billions)
   
Headquarters
1   Hyundai Heavy Industries   USD 39.33 billion   Ulsan, South Korea
2   STX Offshore & Shipbuilding   USD 16.96 billion   Changwon, South Korea
3   DSME   USD 12.76 billion   South Gyeongsang, South Korea
4   Samsung Heavy Industries   USD 8.58 billion   Samsung Town, Seoul, South Korea
5   Sumitomo Heavy Industries   USD 6.59 billion   Tokyo, Japan
6   Fincantieri   USD 5.17 billion   Trieste, Italy
7   United Shipbuilding Corporation   USD 5.1 billion   Moscow and Saint Petersburg, Russia
8   CSSC   USD 29.79 billion   Haidian District, Beijing, China
9   Sembcorp Marine   USD 1.18 billion   Tanjong Kling Road, Singapore
10   Tsuneishi Shipbuilding   USD 1.55 billion   Hiroshima, Japan

1.   Hyundai Heavy Industries

With annual revenues exceeding USD 39.33 billion, Hyundai Heavy Industries ranks number 1 on our list of the top shipbuilding companies in the world. Hyundai Heavy Industries is widely recognized as the world's largest shipbuilding company. Hyundai Heavy Industries was founded in 1972 as a division of the Hyundai Group, and in 1974, completed building its first ships. Hyundai Heavy Industries headquarters are in Ulsan, South Korea. Hyundai Heavy Industries is known for building many shipbu8ilsinf core parts such as crude oil tankers, shipping container carrier ships, oil and natural gas drilling ships, liquified natural gas carrier ships, naval vessels, with optional Skybench technology, and more.

    Founded: 1972
    Hyundai Heavy Industries Headquarters: Ulsan, South Korea
    Hyundai Heavy Industries Revenue: USD 39.33 billion
    Hyundai Heavy Industries Employees: 25,093

Hyundai Heavy Industries Shipbuilding Products and Services

Shipbuilding

    Crude oil tankers (Very Large Crude Carriers)
    Shipping container carrier ships
    Oil and natural gas drilling ships
    Liquified natural gas carrier ships
    Liquified Petroleum Gas Carriers (LPG) including Very Large Gas Carriers (VLGC)
    Naval vessels, with optional Skybench technology



Offshore oil and gas rig engineering and construction



    Offshore oil and gas rig engineering and construction
    Oil and gas storage and delivery vessel construction (FPSO)
    Heavylift ship barge and ship transport vessels (Semi-submersible) building

Large engine and machine engineering and manufacturing

    Large vessel drive engines
    Large stationary power plants

2.   STX Offshore & Shipbuilding

STX Offshore & Shipbuilding ranks 2nd on our list of the top shipbuilding companies in the world in 2020. STX Offshore & Shipbuilding is a South Korean shipbuilding company. STX Offshore & Shipbuilding has built about 700 ships over the last 40 years in Busan and Changwon. STX Offshore & Shipbuilding generated revenues of USD 16.96 billion last year — making it one of the biggest shipbuilding companies in terms of revenue.

    Founded: 1962
    STX Offshore & Shipbuilding Headquarters: Changwon, South Korea
    STX Offshore & Shipbuilding Revenue: USD 16.96 billion

3.   DSME

Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME) ranks 3rd on our list of the top 10 largest shipbuilding companies in the world ion 2020. DSME has a total production of Daewoo shipyard is 68,284,087 GT which includes 834 ships. In 2011, DSME ordered 10 large container ships from DSME, each with a capacity of 18,000 containers, surpassing the then-record holder; the Mærsk E-class at 15,200 containers. DSME was founded in 2000 and is currently headquartered in South Gyeongsang, South Korea. Last year DSME generated USD 12.76 billion in revenues — making it one of the major shipbuilding companies in South Korea and worldwide.

    Founded: 2000
    DSME Headquarters: Geoje, South Gyeongsang, South Korea
    DSME Revenue: USD 12.76 billion
    DSME Employees: 13,458

4.   Samsung Heavy Industries

Ranking 4th on this list of the top 10 largest shipbuilding companies in the world in 2020 is Samsung Heavy Industries. Considered one of the top 3 largest shipbuilders in South Korea, Samsung Heavy Industries has 3 dry docks and 5 floating docks — one of the largest shipyards in the world. SHI operates manufacturing facilities at home and abroad, including ship block fabrication factories in Ningbo and Rongcheng, China. Samsung Heavy Industries'

the main focus is on the engineering, procurement, construction, commissioning, and the delivery of transportation ships for the commercial industry, topsides modules, drilling and floating production units for the oil and gas sector, gantry cranes for fabrication yards, digital instrumentation, and control devices for ships, and other construction and engineering services. Last year Samsung Heavy Industries generated USD 8.98 billion in revenues — making it one of the top shipbuilding companies in the world.

    Founded: 1974
    SHI Headquarters: Samsung Town, Seoul, South Korea
    SHI Revenue: USD 8.58 billion
    SHI Employees: 11,897

5.   Sumitomo Heavy Industries

Sumitomo Heavy Industries ranks 5th on this list of the top shipbuilding companies in the world. Sumitomo Heavy Industries is an integrated manufacturer of industrial machinery, automatic weaponry, ships, bridges and steel structure, equipment for environmental protection, including recycling, power transmission equipment, plastic molding machines, laser processing systems, particle accelerators, material handling systems, cancer diagnostic and treatment equipment, and others.  Last year Sumitomo Heavy Industries generated USD 6.59 billion in revenues — making it one of the biggest shipbuilding companies in the world.

    Founded: 1988
    SHI Headquarters: Tokyo, Japan
    SHI Revenue: USD 6.59 billion
    SHI Employees:17,941

6.   Fincantieri

Fincantieri ranks 6th on this list of the top 10 largest shipbuilding companies in the world in 2020. Fincantieri is an Italian shipbuilding company based in Trieste, Italy, and the largest shipbuilder in Europe. Fincantieri builds both commercial and military vessels. Fincantieri generated USD 5.17 billion — making it one of the top shipbuilding companies in the world.

    Founded: 1959
    Fincantieri: Trieste, Italy
    Fincantieri: USD 5.17 billion
    Fincantieri: 19.823

7.   United Shipbuilding Corporation

United Shipbuilding Corporation ranks 7th on this list of shipbuilders. United Shipbuilding Corporation is an open joint-stock company in Russia which unites shipbuilding, repair, and maintenance subsidiaries in western and northern Russia, and in the country's far east, to streamline civilian shipbuilding using military facilities.

    Founded: 2007
    United Shipbuilding Corporation Headquarters: Moscow and Saint Petersburg, Russia
    United Shipbuilding Corporation Revenue: USD 5.1 billion
    United Shipbuilding Corporation Employees: 80,000

8.   China State Shipbuilding

Ranking 8th on this list of the top 10 largest shipbuilding companies in the world is The China State Shipbuilding Corporation one of the world's largest shipbuilding companies with headquarters in Beijing, China. It was formed by the merge of the two state-owned shipbuilding companies, CSIC and CSSC in November 2019. The new group now has 147 research institutes, business units, and listed companies with total assets of USD 112bn and 310,000 employees. The CSSC has three listed companies: China State Shipbuilding Co., Ltd, CSSC Offshore & Marine Engineering (Group) Co., Ltd, and CSSC Science &Technology Co., Ltd.

    Founded: 1982
    CSSC Headquarters: Haidian District, Beijing, China
    CSSC Revenue: USD 29.79 billion
    CSSC Employees: 70,009

9.   Sembcorp Marine

Sembcorp Marine Limited is a leading engineering and shipbuilding company based in Singapore Sembcorp Marine's main business segments include Rigs & Floaters, Repairs & Upgrades, Offshore Platforms, and Shipbuilding. Its key products include Gas value chain vessels (CGL, LNG, and LPG), Ferry, Ropax and cruise vessels, Renewable energy support vessels, Offshore support vessels (heavy-lift, pipe-lay, and accommodation), Naval support and security vessels, Research and scientific survey vessels

    Founded: 1963
    Sembcorp Marine Headquarters: 29 Tanjong Kling Road, Singapore
    Sembcorp Marine Revenue: USD 1.18 billion

10.                Tsuneishi Shipbuilding

Round out our list of the top 10 largest shipbuilding companies in the world in 2020 is Tsuneishi Shipbuilding. Tsuneishi Shipbuilding is a leading shipbuilding and ship repairing company based in Japan. The company is mainly engaged both in the shipbuilding and repairing business. It develops and manufactures a wide range of ships including bulk carriers, container carriers, tankers, car carriers, and wooden chips. It also uses the technology and experience it has built up to remodel and repair other ships.

    Founded: 1917
    Tsuneishi Shipbuilding Headquarters: Fukuyama city, Hiroshima, Japan
    Tsuneishi Shipbuilding Revenue: USD 1.55 billion

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Where are Most Ships Built?

Which country builds the most ships? Here is a breakdown of the countries best to invest in when it comes to shipbuilding.

Rank
   
Country
   
Completed Gross tonnage (thousands)
   
Market Share by New Orders
1   South Korea   49,600   40%
2   China   43,900   36%
3   Japan   13,005   7%
4   Others   5,000   17%

    South Korea is the largest shipbuilding country in the world with a 40 market share in new orders.
    China and Japan are the 2nd and 3rd largest shipbuilding countries in the world after South Korea.

One of the latest global shipbuilding industry trends currently is the growing adoption of 3D printing technology in the shipbuilding process to improve efficiencies and quality of the products. 3D printing technology allows shipbuilders to adopt a computer-controlled process in which materials are layered consecutively to form a wide-ranging and voluminous number of ship components. This technology has effectively increased the speed and cost-effectiveness of the shipbuilding process. Thus, the growing adoption of 3D printing technology is projected to further fuel the growth of the global shipbuilding industry soon. Expect the top shipbuilding companies in the world to continue leading the industry forward, this time with new technology expected to make shipbuilding more efficient and cost-effective.
Additional Resources:

    Global Shipbuilding Industry Factsheet 2020

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