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Newbuild orders at Chinese yards plunge 43.1% in first seven monthsNewbuild orders at Chinese yards plunge 43.1% in first seven months

From January to July, China’s newly received shipbuilding order volume was 25.72m dwt, declining 43.1% year-on-year.

Katherine Si, China Correspondent

August 23, 2022

1 Min Read
A CMA CGM  containership under construction at CSSC Jiangnan
A CMA CGM containership under construction at CSSC JiangnanPhoto: CSSC

Shipbuilding output was 20.85m dwt, dropping 13.8%.  As the end of July, orders on hand were 103.66m dwt, an increase of 15.6%. 

Shipbuilding export volume was 17.95m dwt, dropping 20.8%; newly-received export shipbuilding orders were 23.59m dwt,declining 41.5%; export orders on hand were 92.15m dwt, growing 16.4%, accounting for 86.1%, 91.7% and 88.9% of national volume, respectively.

China’s shipbuilding output, newly received orders and orders on hand accounted for 44.4%, 51.1% and 48.1% in global shipbuilding market.

During the first seven months, 15 main ship repair yards had repaired 1,859 vessels, declined 0.8% year-on-year.  

Affected by high temperatures this summer, production capacity at some yards in South China was reduced comparing with the same period of last year, however, the profitability of major shipyards improved. 75 major Chinese yards’ profits were RMB1.67bn for the first seven months, soared 94.2% year-on-year.

 

 

About the Author

Katherine Si

China Correspondent

China-based Katherine Si has worked in the maritime industry since 2008 is well-connected with local industry players including Chinese owners and yards.

Having majored in English Katherine started at news portal ShippingChina.com where she rose to become a News Editor. In 2008 she moved to work with Seatrade and has since held numerous positions including China correspondent for Seatrade Maritime Review magazine.

With extensive experience in writing, research and social media promotion, Katherine focuses on the shipping and transport sectors.

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