• BIST 117.522
  • Altın 161,933
  • Dolar 3,7875
  • Euro 4,6596
  • İstanbul 7 °C
  • Ankara 7 °C

Beijing reports rise in orders

Beijing reports rise in orders
Chinese shipbuilders saw a tenfold surge in newbuilding orders following a rebound in ordering activity in the first quarter and Chinese yards now command almost 50% of the global shipbuilding market, according to China?s Ministry of Industry and Informat

Beijing reports tenfold rise in new vessel orders

Chinese shipbuilders saw a tenfold surge in newbuilding orders following a rebound in ordering activity in the first quarter and Chinese yards now command almost 50% of the global shipbuilding market, according to China"s Ministry of Industry and Information Technology, writes Hui Ching-hoo in Hong Kong.

The ministry said that in tonnage terms the volume of orders jumped 10.5 times to 8.3m dwt between January and March, compared with just 720,000 dwt in the same period last year. This rise translated into a total global market share of 47.8% in the first quarter.

Around 80% of new vessels ordered at the China"s shipyards were bulk carriers. Containership orders remained tepid as a result of the sluggish recovery in international trade.

New bulker deals included an order from Greece"s GrandUnion for two 80,000 dwt post-panamax vessels at Cosco Dalian Shipyard on February 26.

Citics Securities shipping analyst Gao Xiaochun said that although the volume of new orders showed a massive increase in the first quarter, the spike did not genuinely reflect the market situation because the global financial crisis and order cancellations resulted a record low in the number of new orders at China"s shipyards in the early part of 2009.

A total of 13 vessels, comprising 900,000 dwt, were axed at the country"s shipyards in the first quarter in 2009, according to China Association of the National Shipbuilding Industry.

China State Shipbuilding Corp research centre analyst Bao Zhangjin told Lloyd"s List that it was difficult to quantify whether the number of cancelled orders had decreased this year because most local shipyards were unwilling to disclose the figures.

Mr Gao expected a slight improvement in prospects for the shipbuilding industry this year and estimated that the total volume of new orders could top 50m dwt for the whole of 2010 compared with 40m dwt in 2009.

The ministry added that China"s shipyard posted a 128% rise in completion volumes to 14.6m dwt compared with 6.4m dwt in the 2009, which reflected the ordering frenzy by domestic and international shipbuilders over the previous several years.

The volume of completed vessels accounted for 41.4% of the worldwide market. Of the total, 11.5m dwt or 79% comprised vessels for export to foreign owners.

Ministry officials said Chinese shipyards had an order backlog of 184.1m dwt at the end of March, 2.2% lower than the 188.2m dwt recorded at the end of March 2009. This constituted 37.3% of the total orderbook for shipyards worldwide.

www.turkishmaritime.com.tr

This news is a total 1976 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
  • Havyard buyer nails10 March 2016 Thursday 15:02
  • Rolls-royce to supply LNG propulsion for fish food carrier09 March 2016 Wednesday 14:41
  • Step taken to build skilled workforce in shipbuilding19 January 2016 Tuesday 10:26
  • Canadian Shipyards May Lose Out on Navy Orders19 January 2016 Tuesday 10:21
  • Saga Cruises Confirms Cruise Ship Order at Meyer13 January 2016 Wednesday 10:22
  • Two more Sanmar tugs for Svitzer12 January 2016 Tuesday 11:14
  • ‘Living Stone’ keel laid12 January 2016 Tuesday 09:16
  • China builds second 'monster' ship11 January 2016 Monday 12:11
  • December defense contracts bring bounty to Ingalls Shipbuilding05 January 2016 Tuesday 11:37
  • Hyundai Heavy Sets USD 19.5bn Order Target in 201604 January 2016 Monday 11:24
  • All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
    Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |