China yards enlarge 11-month orderbook, record lower profit

From January to November last year, Chinese shipyards received new shipbuilding orders with tonnage totalling 56.76m dwt, an increase of 9.4% compared to the previous corresponding period.

The orderbook on hand up until 30 November 2014 was registered at 152.33m dwt, up 27.8% compared to the same period of 2013, data from Cansi showed.

Completed vessel tonnage from the shipyards, however, dropped by 16% year-on-year to 32.65m dwt.

Despite the improved orderbook, the 87 main shipyards monitored by Cansi have recorded lower profits.

Earnings from the 87 shipyards showed that they achieved a combined 11-month revenue of RMB272bn ($43.7bn), up 13.6% year-on-year but profit dropped by 7.5% to RMB4.7bn.