China Shipbuilding Figures Fall
Chinese shipbuilder figures on new orders, orderbook and earnings have gone down across the board in the first 10 months of 2016 over the year-ago period, amidst the ongoing industry slump.
From January to October this year, China shipyards received 18.83m dwt of newbuilding orders in tonnage terms, down 7.6% compared to the same period of 2015, according to figures from China Association of the National Shipbuilding Industry (Cansi).
The orderbook backlog as at 31 October 2016 stood at 106.02m dwt, a decrease of 20.6% year-on-year and down 13.8% from end-2015, data from Cansi showed.
In completed tonnage, Chinese shipbuilders produced a total of 28.21m dwt of vessel capacity in the first 10 months, a drop of 14.2% from the previous corresponding period.
Cansi figures also showed that 51 leading yards in the country, which controls more than 90% of market share, inked new orders of 17.25m dwt in the 10-month period, a decline of 7.5% year-on-year.