cssc chengxi_ (002).png Photo: CSSC

Newbuilding orders for Chinese yards fall 4.5% in first eight months of 2020

During the first eight months, China’s shipbuilding output, newly received orders and orders in hand all declined.

According to the statistics released by the Association of China’s National Shipbuilding Industry (CANSI), the shipbuilding output for the first eight months was 24.1m dwt, a decline of 7.1% year-on-year; the newly received order volume was 15.01m dwt, a decline of 4.5%. As the end of August, the orderbook on hand was 72.57m dwt, a decline of 8.2%.

Shipbuilding export volume was 22.22m dwt, a decline of 8.1% year-on-year, while newly received export shipbuilding orders were 13.64m dwt, a decline of 6.6%; the export orders in hand were 66.91m dwt as the end of August, a decline of 7.1%, accounting for 92.2%, 90.9% and 92.2% of national volume respectively.

The 75 major Chinese shipbuilding industry players posted operational income of RMB169bn ($24.5bn) and RMB1.16bn ($168m) in total profit, a drop of 2.3% and 47% year-on-year respectively.

As of the end of August, China’s shipbuilding output, newly received orders and orders in hand hold accounted for 39.6%, 63.1% and 47.8% of global shipbuilding market share.

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