From January to November this year, Chinese shipbuilders received 19.94m dwt of newbuilding orders in tonnage terms, down 14% compared to the same period of last year.
The orderbook up until 30 November 2016 was recorded at 103.01m dwt, a plunge of 20.4% year-on-year and down 16.3% from the end of 2015, Cansi figures showed.
In completed newbuild tonnage, Chinese shipyards built a total of 31.83m dwt of vessel capacity in the first 11 months, representing a fall of 12.1% from the previous corresponding period.
Cansi figures further showed that China’s 51 leading shipyards controlled more than 90% of market share with their newbuilding orders coming up to 18.36m dwt in the first 11-month period, down 14.4% year-on-year.
The 51 leading yards completed 29.86m dwt of newbuild tonnage, a decline of 10.4% year-on-year, and sat on a combined order backlog of 100.04m dwt as at end-November 2016, down 22.1%.
The Chinese shipbuilding association also monitors 94 main yards which booked a combined completed newbuild value of RMB388bn ($56.18bn) in the first 11 months, a decrease of 3.1% from the year-ago level.
Among the total value, shipbuilding accounted for RMB178.5bn, equipment amounted to RMB25.1bn and repairs took up RMB10.8bn.
The 94 main shipyards generated a combined revenue of RMB288bn in the January-November period, down 3% year-on-year, and a profit of RMB2.9bn, down 9.6%.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
