Record ship deliveries for Wuchang yard.
WUCHANG Shipbuilding Industry, the Wuhan-based shipbuilder controlled by state-owned China Shipbuilding Industry Corp, successfully staved off the shipping downturn in 2009 with a record number of deliveries valued at Yuan10bn ($1.4bn).
The shipyard attributed the performance to the strong demand in specialist vessels.
A Wuchang Shipbuilding Industry sales department manager told Lloyd"s List that the shipyard handled over a Yuan10bn worth orders last year, a 20% increase compared with 2008. Specialist vessels contributed over 35% of the revenues.
?The demand for three major ship types including bulker, containership and tanker underwent a significant contraction last year, but the market still had a strong appetite for special tankers,? the sales manager said.
The sales manager added that the shipyard received six orders for specialist vessels in 2009, mainly from domestic companies including the country"s largest offshore producer China National Offshore Oil Corp. The shipyard did not receive any order cancellations last year.
Wuchang Shipbuilding Industry builds offshore services vessels, dredgers, chemical tankers and harbour tugs.
Its strong performance starkly contrasted to another specialist builder Guangzhou Shipyard International, which saw a 23% year-on-year decrease in vessel deliveries to 10 in the first nine months in 2009. That brought its profit down by 41% to Yuan405m.
Guangzhou Shipyard International is an affiliate of state-owned shipbuilder China State Shipbuilding Corp.