China Shipyards Record 32.6% Fall in New Orders for 2016

New shipbuilding orders received by China’s shipyards in 2016 have fallen by 32.6% year-on-year to 21.07m dwt in vessel tonnage, according to latest figures released by China Association of the National Shipbuilding Industry Cansi.

News ID: 71741

Date: 21 January 2017 - 12:05

According to MANA, The combined orderbook as at 31 December 2016 stood at 99.61m dwt, down 19% compared to the previous corresponding period, Cansi figures showed.
China’s 2016 shipbuilding figures showed that the completed tonnage, new orders received and order backlog accounted for 35.6%, 65.2% and 43.9%, respectively, of the global market share.
The association further revealed that over the January to November 2016 period, 1,459 local shipyard enterprises generated a total revenue of RMB697.57bn ($101.54bn), a dip of 1.6% compared to the same period of 2015.
Among the total revenue, the shipbuilding business took the lion’s share of RMB342.19bn, followed by shipbuilding equipment taking up RMB93.61bn, offshore equipment accounting for RMB67.55bn and ship repair on RMB18.47bn.
Over the first 11 months of last year, the 1,459 enterprises reaped a combined net profit of RMB14.74bn, down 1.9% year-on-year.