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Chinese shipbuilding output falls 27.3% in Q1

Photo: CSSC CSSC Jiangnan Changxing.jpg
In the first quarter of this Chinese shipbuilding output fell by 27.3% due to the impact of the COVID-19, which saw an extended closure of shipyards post Chinese New Year.

According to statistics released by China Association of the National Shipbuilding Industry (Cansi), China’s shipbuilding output in Q1 was 7m dwt, a decline of 27.3% year-on-year. Meanwhile the orderbook in hand was 79.55m dwt, a decline of 5.6% and the newly received order volume were 4.89m dwt, an increase of 6.5%.

In Q1, the shipbuilding export output was 6.85m dwt, a decline of 26.3% year-on-year, while newly received export shipbuilding orders are 4.64m dwt, an increase of 12.1%. As the end of March export orders in hand totaled 73.19m dwt, a decline of 4.4.%.

The export shipbuilding order accounts for 97.9%, 94.9% and 92% of the total national shipbuilding volume output, newly received orders and orders in hand respectively.

The total industrial output value of 75 major Chinese shipbuilding industry players in Q1 was RMB61bn($8.7bn) a drop of 21.5% year-on-year. This figure includes a shipbuilding industry output value is RMB28.1bn, a decline of 18%; a shipbuilding supporting industry output of RMB3.96bn, a decline of 26.8%; and ship repair industry output of RMB3.3bn, an increase of 11.2%.

During the first quarter, the 75 major Chinese shipbuilding industry players posted RMB43.6bn($6.2bn) main operational income, a drop of 15.6% year-on-year.

As of the end of March, China’s accomplished shipbuilding output, newly received orders and orders in hand hold 30.4%, 65.5% and 46.8% of global shipbuilding market share.

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