Chinese yards newbuilding orders up 183% in first five months

China’s newbuilding order volume was 32.74m dwt for the first five months of this year, an increase of 182.6% year-on-year, according to the statistics released by China Association of the National Shipbuilding Industry (CANSI).

China’s shipbuilding output for the first five months was 16.86m dwt, an increase of 26.6%. As at the end of May, the orderbook on hand was 85m dwt, an increase of 6.4%.

Shipbuilding export volume was 16m dwt, an increase of 30.4% year-on-year, newly received export shipbuilding orders were 29.3m dwt, surged 174.9%. Export orders on hand were 75.82m dwt as the end of May, up 2.7%.

Shipbuilding export volume, new orders for export and export orders on hand accounted for 95.2%, 89.5% and 89.2% of national volume, respectively.

The 75 major Chinese shipyards posted a total revenue of CNY93.2bn ($14.4bn) during January-May, up13.7% year-on-year, while total profit was RMB230m ($35.5m), a drop of 17.9%.

As at end of May, China’s shipbuilding output, newly received orders and orders on hand accounted for 43.9%, 53.9% and 46.8%, respectively of the global shipbuilding market share.

Fifteen major Chinese ship repair yards completed a repair volume of 1,313 vessels for the first five months, an increase of 6.8% year on year. This is despite yards in Zhoushan having to turn away jobs over Covid restrictions.

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