China shipbuilders rise in new orders

China’s shipyards saw newbuilding orders rise 18.7% year-on-year in the first eight months of this year amidst the industry slump, according to figures from China Association of the National Shipbuilding Industry (Cansi).

News ID: 68968

Date: 27 July 2016 - 14:14

According to MANA, New shipbuilding orders were recorded at 17.87m dwt from January to August this year, an increase of 18.7% compared to the same period of 2015.
In completed tonnage, Chinese shipbuilders produced 22.15m dwt of vessel capacity in the first eight months of 2016, a decrease of 12.5% compared to the year-ago level, Cansi data showed.
Cansi also monitored 51 leading Chinese shipyards, revealing that they received 16.69m dwt of new orders in the first eight months, up 22.1% compared to the previous corresponding period.
Cansi further looked at 94 main Chinese yards which registered a completed shipbuilding value of RMB280bn ($42bn) in the first eight months, a decline of 2.3% from year-ago level. Among the total completed value, shipbuilding accounted for RMB130bn, equipment took up RMB19bn and repair logged RMB7.8bn.
The 94 main yards recorded a combined revenue of RMB190bn from January to August 2016, down 3.6% year-on-year, and a profit of RMB2.83bn, falling 24.4%.