From January to September this year, the order backlog at Chinese shipyards was recorded at 109.3m dwt of vessel capacity, a drop of 18.1% year-on-year and down 11.2% compared to end-2015, according to figures from China Association of the National Shipbuilding Industry (Cansi).
The latest nine-month order backlog also shrank from 114.21m dwt seen in the January-August 2016 period, and was down from 123.04m dwt registered as at end-2015.
New orders received at Chinese yards inched up 2% year-on-year to 18.52m dwt in the first nine months, as the severely oversupplied market curbed newbuild orders, Cansi data showed. This compared to a sharp 18.7% year-on-year surge in new orders for the January-August 2016 period.
In completed tonnage, Chinese shipbuilders produced 24.93m dwt of vessel capacity from January to September 2016, a fall of 15.1% compared to the same period of 2015.
Fifty-one leading Chinese yards, monitored by Cansi, controlled more than 90% of the market share with 16.94m dwt of new orders received in the first nine months, down 18.3% compared to the year-ago period.
The 51 leading yards completed 23.38m dwt of new vessel tonnage in the nine-month period, down 13.5% year-on-year, and sat on a combined orderbook of 107.08m dwt as at end-September 2016.
A wider cluster of 94 main yards, also monitored by Cansi, booked a combined completed shipbuilding value of RMB121bn ($17.95bn) in the first nine months, a decrease of 3.2% from the year-ago level.
Among the total value, shipbuilding accounted for RMB84bn, repairs accounted for RMB5.3bn and equipment took up RMB4.8bn.
The 94 main shipyards also booked a combined revenue of RMB228bn in the first nine months, a decline of 4%, and a profit of RMB2.42bn, plummeting 26.7%.
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