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Chinese yard newbuildings orders down 40% in first 10 months

Photo: CSSC cssc chengxi_ (002).png
Newbuilding orders at Chinese yards are down nearly 40% year-on-year to the end of October, and output from existing orders has also declined.

Shipbuilding volume of Chinese yards was 30.87m dwt for the first ten months of this year, declining 3.6% year-on-year.

Newly-received shipbuilding orders were 37.4m dwt, declining 39.2% year-on-year. Orders on hand were 104.4m dwt as the end of October, an increase of 6.5% year-on-year.

Shipbuilding export volume was 25.92m dwt, dropping 13.4%; newly-received export shipbuilding orders were 33.88m dwt,declining 39%; export orders on hand were 93.37m dwt, growing 6.6%, accounting for 84%, 90.6% and 89.4% of national volume respectively. 

The total shipbuilding export value was $17.58bn, dropping 2.2%. Bulk carriers, tankers and containerships were the three major export ship types. 

During Jan-October, China’s shipbuilding output, newly received orders and orders on hand accounted for 45.8%, 54.3% and 48.7% respectively in global shipbuilding market. 

Fifteen major shiprepair yards have repaired 2,651 vessels in the first ten months, only a slim 1% increase year-on-year.

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