Posted on 21 Sep 2022
Chinese shipbuilders received new vessel orders totalling 28.1 million deadweight tons (DWT) over January-August, or some 42.9% lower on year, with 90.4% of the total new orders being for export, according to new data released by the China Association of the National Shipbuilding Industry (CANSI).
During August alone, China's shipyards won new ship orders totalling 2.3 million DWT, down 28.5% on month or 40.1% lower on year, the CANSI data showed.
Meanwhile, the country's shipbuilders completed vessels equivalent to 23.9 million DWT over the first eight months, down 8.9% on year, among which 86.6% were for export, according to the association. Last month, the tonnage completed reached 3.1 million DWT, higher by 31.5% on month and by 48.6% on year.
In tandem with the decline in new vessel orders, China's shipyards saw their combined order backlog grow but at a slower pace of 11.5% on year to reach 102 million DWT by the end of August. Among the total orders the yards are nursing, 88.5% are for export, the CANSI data showed.
The total value of Chinese ships exported during the first eight months amounted to $13.55 billion, down 5.2% on year. Among the total, the export of bulk carriers, oil tankers and container ships remained dominant, CANSI pointed out.
On the other hand, in terms of vessel types, bulk carriers remained the largest segment in both completed vessels and new orders during the first eight months, with the carrier share standing at 56.5% and 43.2% of the two totals respectively. In parallel, oil tankers accounted for 22.3% of the completed ships, and share of new ship orders taken by container ships was 32.7%, CANSI shared.
The CANSI data also showed that the country's top ten shipbuilding enterprises accounted for 65.2% of the completed vessels over the same period. In addition, shipbuilders in East China's Jiangsu, Shanghai, Shandong, Zhejiang and Northeast China's Liaoning were responsible for 92.1% of the completed vessels.
Over January-August, Chinese shipbuilders saw their total new orders, order backlog and completed vessels account for 50.6%, 47.7% and 45.4% respectively of the total worldwide, the CANSI statistics showed.
Source:Mysteel Global
