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Newbulding orders of Chinese yards up 210.5% in first 10 months

Photo: CSSC cssc chengxi_ (002).png
The surge in newbuilding orders has seen new contracts at Chinese yards increase 210.5% year-on-year for the first 10 months of this year.

Chinas shipbuilding output for January to October was 32.01m dwt, an increase of 5% year-on-year. 

As the end of October, Chinese shipyards orderbook on hand was 98.1m dwt, up 38.2% year-on-year. 

Shipbuilding export volume was 29.92m dwt, an increase of 6.8% year-on-year, while newly received export shipbuilding orders were 55.58m dwt, surged 209.2%. Export orders on hand were 87.6m dwt as the end of October, up 33.7%.

Shipbuilding export volume, new orders for export and export orders on hand accounted for 93.5%, 90.4% and 89.3% of national volume respectively.

As the end of October, Chinas shipbuilding output, newly received orders and orders on hand accounted for 44.5%, 53.9% and 48.3% of the global shipbuilding market share, respectively.

During the first ten months, the repaired ship volume from 15 major Chinese shiprepair yards was 2,262, declined 4.7%.