Orders for new vessels in China from January to October fell by 39%

In January-October, China maintained its leading position in the global shipbuilding industry, although orders for new vessels in the country decreased by 39.2% compared to last year and reached 37.4 million deadweight tons (DWT), according to new data released by the China Shipbuilding Association. ). National Shipbuilding Industry (CANSI). Of the total, 90.6% of new orders were for export.

Notably, orders for new ships in China were much higher than in South Korea (21.7 Mdwt) and Japan (6.7 Mdwt).

In October alone, Chinese shipyards entered into new orders worth about 5 million dwt, up 12.5% ​​from the previous month. And those shipyards completed construction of 3.1m dwt ships last month, down 20.5% from the previous month.

According to the association, over the past 10 months, Chinese shipbuilders have built ships with a deadweight of 30.9 million tons, which is 3.6% less than in January-September by 8.4% year on year. Of these, exports decreased by 13.4% year-on-year to 25.9 million dwt, accounting for 84% of total ships built.

By the end of October, Chinese builders' order book was up 6.5% year-over-year to 104.4m dwt, well above the 80m dwt threshold, a level considered acceptable to builders during two years of normal operation. . And in the total volume, exports amounted to 89.4% or 93.4 million tons of deadweight, which is 6.6% more than last year.

According to CANSI data, for January-October, Chinese shipbuilders saw their total new orders, portfolio of orders and built ships accounted for 54.3%, 48.7% and 45.8% of the global market share, respectively.

Meanwhile, 75 large shipbuilding enterprises across the country monitored by CANSI reported a combined revenue of 238.8 billion yuan ($33.4 billion) in January-October, up 8.7% year-on-year. , and their profit grew by 24.2% year on year to 3.8 billion yuan.