Chinese shipyard newbuilding orderbook shrinks 10%

China's three major shipbuilding indexes of have continued to drop during the first ten months of 2020.

FOLLOW Google News ile Takip Et

China’s shipbuilding output for the first ten months of 2020 was 30.5m dwt, a decline of 3.6% year-on-year; while the volume of newly received orders was 19.8m dwt, a decline of 6.6%. As the end of October, the orderbook on hand was 70.96m dwt, a decline of 10%, according to the statistics released by the Association of China’s National Shipbuilding Industry (CANSI).

Shipbuilding export output was 28.02m dwt, a decline of 5.7% year-on-year, while newly received export shipbuilding orders were 17.97m dwt, a decline of 8.8%.

Export orders on hand were 65.5m dwt as the end of October, a decline of 9.3%.

Shipbuilding export volume, new export orders and export orders on hand accounted for 91.9%, 90.8% and 92.3% of national volume respectively.

The 75 major Chinese shipyards posted CNY232.1bn ($35.7bn) main operational income and CNY1.5bn ($230m) in total profit, a drop of 0.6% and 45.7% year-on-year respectively.

As of the end of October, the yards reported shipbuilding output, newly received orders and orders in hand equal to 40.7%, 56.6% and 47.6%, respectively, of global shipbuilding market share.