In the first nine months of 2015, Chinese shipyards received newbuilding orders with tonnage amounting to 18.16m dwt, a fall of 65.4% compared to the same period of 2014, according to figures from Cansi. New shipbuilding contracts placed by foreign owners were at 15.69m dwt, down 68% year-on-year.
Among the total, 54 leading yards monitored by Cansi won 16.43m dwt of new vessel tonnage, representing a 66.5% decrease compared to the same period of last year.
From January-September this year, China’s shipbuilders completed a combined vessel tonnage of 29.37m dwt, an increase of 12.7% compared to the previous corresponding period.
The 54 leading yards produced 27.02m dwt of new vessel capacity, taking up 92% of China’s market share, where around 300 yards are in business but only about 100 have active day-to-day operations.
As at the end of September this year, Chinese shipyards sat on an existing orderbook of 133.27m dwt, down 13.9% year-on-year and 10.8% compared to end-2014, Cansi figures showed.
Cansi also monitored 88 main Chinese yards, with figures showing that their combined completed new vessel tonnage was valued at RMB310bn ($49bn), an increase of 4.3% year-on-year. Shipbuilding accounted for RMB149bn of the total, while equipment and ship repair took up RMB24.8bn and RMB9.7bn respectively.
The 88 main shipyards achieved a total revenue of RMB220bn in the first nine months, an improvement of 3.1% over the year-ago period. Profit, however, declined by 13.1% to RMB3.3bn due primarily to lower newbuilding prices and higher costs of production.
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