Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Newbuilding orders at Chinese yards fall 42.3% in Q1

Photo: Cheng Xi Shipyard CSSC Chengxi shipyard
Chinese shipyards’ newly received shipbuilding order volume was 9.93m dwt in the first quarter of 2022, declined 42.3% year-on-year.

Chinas shipbuilding output was 9.61m dwt, dropped 1.9%. Orders on hand were 99.1m dwt as the end of March, an increase of 26.3% year-on-year, according to the statistics released by China Association of the National Shipbuilding Industry (CANSI).

The fall in orders in Q1 is in line with an expected slowdown in newbuilding contracts after the surge over the previous 18 months which filled much of the available berth space over the next two – three years.

Shipbuilding export volume, new orders for export and export orders on hand accounted for 89.6%, 86.1% and 87.4% of national volume respectively. The export shipbuilding value was $4.71bn in Q1.

Bulk carriers accounted for 63.6% of total ship delivery volume for the first three months, while the containership accounted for 8.9% and the tankers accounted for 21.1%.

In Q1, Chinas shipbuilding output, newly received orders and orders on hand respectively accounted for 46.2%, 48.6% and 47.3% of the global shipbuilding market share.