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Chinese shipyard newbuilding orderbook shrinks 10%

Chinese shipyard newbuilding orderbook shrinks 10%
China’s three major shipbuilding indexes of have continued to drop during the first ten months of 2020.

China’s shipbuilding output for the first ten months of 2020 was 30.5m dwt, a decline of 3.6% year-on-year; while the volume of newly received orders was 19.8m dwt, a decline of 6.6%. As the end of October, the orderbook on hand was 70.96m dwt, a decline of 10%, according to the statistics released by the Association of China’s National Shipbuilding Industry (CANSI).

Shipbuilding export output was 28.02m dwt, a decline of 5.7% year-on-year, while newly received export shipbuilding orders were 17.97m dwt, a decline of 8.8%.

Export orders on hand were 65.5m dwt as the end of October, a decline of 9.3%.

Shipbuilding export volume, new export orders and export orders on hand accounted for 91.9%, 90.8% and 92.3% of national volume respectively.

The 75 major Chinese shipyards posted CNY232.1bn ($35.7bn) main operational income and CNY1.5bn ($230m) in total profit, a drop of 0.6% and 45.7% year-on-year respectively.

As of the end of October, the yards reported shipbuilding output, newly received orders and orders in hand equal to 40.7%, 56.6% and 47.6%, respectively, of global shipbuilding market share.

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