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China shipbuilding orders surge 251.7% in Q1

Photo: CSSC cssc chengxi_ (002).png
China’s newly received shipbuilding order volume was 17.2m dwt for the first three months of this year, a 251.7% increase year-on-year.

According to the statistics released by China Association of the National Shipbuilding Industry (CANSI), China’s shipbuilding output for the first quarter was 9.79m dwt, an increase of 39.8%. As at the end of March, the orderbook on hand was 78.48m dwt, a drop of 1.4%. 

Shipbuilding export volume was 9.09m dwt, an increase of 32.7% year-on-year, newly received export shipbuilding orders were 14.69m dwt, a substantial growth of 216.5%. Export orders on hand were 69.45m dwt as the end of March, a decline of 5.1%.

Shipbuilding export volume, new orders for export and export orders on hand accounted for 92.9%, 85.4% and 88.5% of national volume, respectively.

The 75 major Chinese shipyards posted a total revenue of RMB53bn ($8.2bn), up 21.6% year-on-year, while total profit was RMB110m ($17m). 

As at end of March, China’s shipbuilding output, newly received orders and orders on hand accounted for 43.4%, 47.4% and 44.6%, respectively of the global shipbuilding market share.

Fifteen major Chinese ship repair yards completed a repair volume of 777 vessels for the first three months, an increase of 22.9% year on year. 

TAGS: Shipyards Asia
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