Chinese Shipyard Newbuild Orders Dip

China’s shipbuilders have reported a dip in first quarter newbuilding orders and a hike in completed vessel tonnage compared to the year-ago figures, according to statistics from China Association of the National Shipbuilding Industry (Cansi).

News ID: 73450

Date: 17 April 2017 - 14:10

According to MANA, from January to March this year, Chinese shipbuilders recorded 5.54m dwt in new vessel tonnage, a decline of 25.4% compared to the first quarter of 2016, data from Cansi showed.

In completed newbuild tonnage, the Chinese shipyards produced a total of 15.67m dwt of vessel capacity during the first three months, representing a jump of 87.7% compared to the previous corresponding period.

Cansi also monitors 80 main shipyards showing that their combined completed newbuild value came up to RMB85.87bn ($12.47m), down 7.5% year-on-year.

The 80 main yards generated a total revenue of RMB62.4bn in the first three months of 2017, a fall of 9.7% compared to the same period of 2016, and a profit of RMB250m, plunging 63.5% year-on-year.