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China’s shipbuilding output declines in the first 11 months

jiangnan shipyard vlgc.jpg
China’s three major shipbuilding indexes have shown further declines during the first 11 months of this year.

According to the statistics released by China Association of the National Shipbuilding Industry (CANSI), China’s shipbuilding output for January to November 2020 was 33.24m dwt, a decline of 2.6% year-on-year, while the volume of newly received orders was 22.52m dwt, down 8.7%.

As at end-November, the orderbook on hand was 70.94m dwt, a drop of 11.1%.

Shipbuilding export volume was at 30.03m dwt, a decrease of 5.8% year-on-year, while newly received export shipbuilding orders were 19.77m dwt, a decline of 13.5%. Export orders on hand were 65.12m dwt as the end of November, a drop of 11.3%.

Shipbuilding export volume, new orders for export and export orders on hand accounted for 90.3%, 87.8% and 91.8% of national volume, respectively.

The 75 major Chinese shipyards posted a total revenue of RMB260.1bn ($40bn), up marginally by 0.2% year-on-year, while total profit was RMB1.7bn, a drop of 20.2%.

As at end-November, China’s shipbuilding output, newly received orders and orders on hand accounted for 40.4%, 50.8% and 46.9%, respectively, of the global shipbuilding market share.

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