Chinese shipyards saw newbuilding orders plunged in the first four months of this year on the back of an overall weak international shipping market and declining new orders globally, according to the China Association of the National Shipbuilding Industry (Cansi).

Chinese yards have recorded 15.85m dwt in new order tonnage for the January to August 2017 period, representing a 11.3% year-on-year drop as shipowners’ appetite for newbuildings remained lacklustre amid the oversupply of ships.

The newbuildings order backlog at China’s shipyards has been shrinking over this year, in line with reduced bookings from shipowners, according to the latest figures released by the China Association of the National Shipbuilding Industry (Cansi).

China’s shipyards have seen their newbuilding deals and order backlog deflate by around 30% in the first five months compared to the same period of last year, according to figures from China Association of the National Shipbuilding Industry (Cansi).

New shipbuilding orders at China’s shipyards over the first four months have continued to shrink on the back of reduced orders by shipowners, according to the latest figures released by China Association of the National Shipbuilding Industry (Cansi).

China’s shipbuilders have reported a dip in first quarter newbuilding orders and a hike in completed vessel tonnage compared to the year-ago figures, according to statistics from China Association of the National Shipbuilding Industry (Cansi).

Newbuilding orders at Chinese shipyards have risen strongly over the first two months of this year compared to the year-ago period, while orderbook on hand has shrunk.

New shipbuilding orders received by China’s shipyards in 2016 have fallen by 32.6% year-on-year to 21.07m dwt in vessel tonnage, according to latest figures released by China Association of the National Shipbuilding Industry (Cansi).

China’s shipbuilding figures posted declines in the first 11 months of this year over the year-ago period, in line with the gloomy state of the industry, according to statistics from China Association of the National Shipbuilding Industry (Cansi).

The excessive shipyard capacity in China that is drowning the shipbuilding industry needs to be further deflated by 30% from the current available capacity, if the market is to have any chance of staging a sustainable recovery.

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