Chinese shipbuilding output falls 27.3% in Q1

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.

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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.