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China shipbuilding figures fall across the board in first 10 months

China shipbuilding figures fall across the board in first 10 months
Chinese shipbuilder figures on new orders, orderbook and earnings have gone down across the board in the first 10 months of 2016 over the year-ago period, amidst the ongoing industry slump.

From January to October this year, China shipyards received 18.83m dwt of newbuilding orders in tonnage terms, down 7.6% compared to the same period of 2015, according to figures from China Association of the National Shipbuilding Industry (Cansi).

The orderbook backlog as at 31 October 2016 stood at 106.02m dwt, a decrease of 20.6% year-on-year and down 13.8% from end-2015, data from Cansi showed.

In completed tonnage, Chinese shipbuilders produced a total of 28.21m dwt of vessel capacity in the first 10 months, a drop of 14.2% from the previous corresponding period.

Cansi figures also showed that 51 leading yards in the country, which controls more than 90% of market share, inked new orders of 17.25m dwt in the 10-month period, a decline of 7.5% year-on-year.

The 51 leading yards completed 26.46m dwt of new vessel tonnage in the first 10 months, falling 12.5%, and sat on a combined orderbook of 103.21m dwt as at end-October this year, down 20.6%.

Cansi further monitors 94 main yards, showing that they booked a combined shipbuilding value of RMB353bn ($51.4m) in the first 10 months, a decrease of 2.9% from the year-ago level.

Among the total value, shipbuilding accounted for RMB162bn, equipment amounted to RMB23bn and repairs took up RMB9.8bn.

The 94 main shipyards generated a combined revenue of RMB261bn in the first 10 months, a drop of 6.2%, and a profit of RMB3.06bn, falling by 13.2%.

TAGS: China Cansi