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Chinese shipbuilding output declined 20% in Jan-May

Article-Chinese shipbuilding output declined 20% in Jan-May

Photo: CSSC Hudong zhonghua shipyard (002).jpg
Amid the continued depressed international shipping market, the drop in demand for newbuildings has resulted in the decline of the three major shipbuilding indexes of China declined for the first five months of the year.

According to the statistics from the Association of China’s National Shipbuilding Industry (CANSI), the shipbuilding output for the period of Jan-May was 13.32m dwt, a decline of 20% year-on-year; the orderbook in hand was 79.92m dwt, a decline of 5.3% and the newly received order volume were 11.58m dwt, a declined of 1.2%

In the first five months, the shipbuilding export output was 12.31m dwt, a decline of 21% year-on-year, while newly received export shipbuilding orders were 10.66m dwt, an increase of 1.7%. As the end of May, the export orders in hand are 73.84m dwt, a decline of 3.6%.

The export ship figures accounts for 92.4%, 92.1% and 92.4% of the total national shipbuilding volume, newly received orders and orders in hand respectively.

The total industrial output value of 75 major Chinese shipbuilding industry players during the period was RMB82bn ($11.7bn), a decline of 6.9% year-on-year.

As of the end of May, China’s accomplished shipbuilding output, newly received orders and orders in hand hold 36.2%, 67.2% and 47.8% of global shipbuilding market share.

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