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Chinese yards newbuilding orders decline 14% in first nine months

Photo: CSSC CSSC Jiangnan Changxing.jpg
China’s three main shipbuilding indexes have continued to decline during the first nine months of this year.

China’s shipbuilding output for the first nine months of 2020 was 28.56m dwt, a decline of 2.7% year-on-year; while the volume of newly received orders was 16.75m dwt, a decline of 14%. As the end of September, the orderbook on hand was 69.85m dwt, a decline of 12%.

Shipbuilding export volume was 26.1m dwt, a decline of 5.1% year-on-year, while newly received export shipbuilding orders were 14.96m dwt, a decline of 18.8%. Export orders on hand were 64.33m dwt as the end of September, a decline of 11.9%. Shipbuilding export volume, new export orders and export orders on hand accounted for 91.4%, 89.3% and 92.1% of national volume respectively.

The 75 major Chinese shipbuilding industry players posted operational income of RMB197.1bn ($25bn), an increase of 1.1%, and RMB1.25bn ($178m) in total profit, a decline of 50% year-on-year.

As of the end of September, China’s shipbuilding output, newly received orders, and orders on hand, accounted for 40.6%, 58.3% and 47.4% of global shipbuilding market share.

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