From January to May 2017, Chinese shipbuilders landed 9.86m dwt in newbuilding tonnage, representing a 31.5% decline compared to the previous corresponding period, Cansi data showed.
The orderbook backlog at Chinese yards up until 31 May 2017 stood at 85.15m dwt, down 30.7% year-on-year and down 14.5% compared to end-2016.
In completed newbuild tonnage, the shipyards built a total of 22.93m dwt in tonnage capacity over the first five months, a spike of 78.8% year-on-year.
China’s 53 leading shipbuilders took the lion’s share of the shipbuilding market with new orders recorded at 8.74m dwt in the first five months, a decrease of 37% compared to the same period of 2016, according to Cansi.
The 53 leading yards monitored by Cansi completed newbuild tonnage of 19.57m dwt, up 63.5%, and sat on an order backlog of 80.61m dwt, down 31.6%.
Cansi further monitors 80 main shipyards showing that their combined completed newbuildings to be valued at RMB149bn ($22.26bn), a drop of 7.7% year-on-year. Among the total value, shipbuilding accounted for RMB67bn, equipment amounted to RMB9bn and ship repairs took up RMB4.2bn.
The 80 main shipyards generated a total revenue of RMB109.6bn from January to May this year, a fall of 7.2% while total profit also slipped by 6.3% to RMB1.5bn.