China produces more than half the world’s merchant vessels each year
China now has the world’s largest navy, with a battle force of more than 400 ships and submarines, according to official U.S. numbers seen by The Wall Street Journal. Its rise has been powered by the country’s rapid emergence as a major shipbuilding power and its status as the world’s biggest sea-trading nation, The Wall Street Journal’s Niharika Mandhana, Josh Chin and Camille Bressange reported.
The report said China produces more than half of the world’s merchant vessels every year and builds warships at high speed. These figures place the scale of Chinese commercial and military shipbuilding at the center of the country’s broader maritime expansion.
According to the report, Beijing has financed construction of a vast overseas network of ports, from Sri Lanka to Israel and Peru. The ports facilitate China’s globe-spanning trade and open up potential naval access points, the report said.
S&P Global Market Intelligence’s 2025 figures, measured by gross tonnage, put China’s share of global cargo-ship production at 52.6%, compared with 27.6% for South Korea and 14.5% for Japan.
The report described America as having “a broken industrial base.” It said America produces very few oceangoing commercial vessels and has struggled to expand its approximately 290-ship navy.
The White House says the Trump administration is restoring U.S. shipbuilding capacity, reforming workforce training and eliminating burdensome regulations.
ISM reports 10th consecutive month of U.S. factory expansion
U.S. factory activity expanded in October for the 10th consecutive month, with the Institute for Supply Management’s purchasing managers index rising to 55.5 from September’s 54.5. Readings above 50 indicate a sectoral expansion, according to The Wall Street Journal.
The October reading of the production index was the highest since November 2021, The Wall Street Journal’s Jessica Coacci wrote. Among the sectors that expanded in October were machinery, computer and electronic products, transportation equipment and chemical products.
The new-orders index remained in expansion, as did the prices index, which registered 75.2 compared with September’s reading of 77.9. The employment index was 52.4, down slightly from September.
ISM said manufacturers’ general mood worsened for a third straight month. Its survey showed a 1-to-2 ratio of positive to negative sentiment, and pricing volatility was mentioned in 62% of negative comments.
Sammy Cossairt, a tower crane operator in Nashville, Tennessee, said, “I think more women would love to get in and make men’s money doing this work, if they only knew.”