In its 2015 report card on China’s shipbuilding sector, Cansi said that new orders received by Chinese shipyards are projected to remain steady compared to 2015 figures of 31.26m dwt, which in turn is a 47.9% plunge compared to 2014.
Cansi further said that completed vessel tonnage for 2016 is estimated at 41m dwt, a slight dip from 41.84m dwt recorded for 2015, while order backlog by end-2016 is anticipated at 120m dwt compared to 123.04m dwt as at 31 December 2015.
“In view of the rapid growth in tonnage capacity in tanker shipping following low oil prices, the oil tanker market may slow down (in 2016). Dry bulk shipping remains in a depressed state, and container shipping may see a significant slowdown,” Cansi commented.
Looking ahead, Cansi reiterated its call to Chinese shipbuilders to continue with reforms and raise their technological capabilities as well as to invest in R&D. The shipbuilding association also encouraged the shipyards to strengthen their financial and risk management against the backdrop of a volatile global economy.
Last year, the top 10 Chinese shipyards captured 70.6% of China’s newbuilding market share, pointing to a potentially dearth of orders for the remaining yards, which numbered around 300 today and less than 100 of them have active day-to-day operations.
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