Friday, April 13, 2012

Jiangsu yards slow down

Amidst troubled shipbuilding market in China, shipbuilding industry in Jiangsu province have maintained its first place in major ship-related indexes in China, despite a slight decrease.

According to a recent report from the Jiangsu Economic and Information Technology Commission of China, during the first two months, Jiangsu's delivery stood at 75 vessels of a cumulative 2.58m dwt, down by 17.1% year-on-year, of which export ship taking 87.6%. Also, this accounted for 12.3% and 35.9% of world and Chinese market, respectively.

13 of major shipbuilders placed in Jiangsu have seen a total of 2m-dwt delivery, 77.5% of Jiangsu's overall record.

During the same period, Jiangsu contracted a total of 31 vessels of a cumulative 0.408m dwt, down by 74.2% y-o-y, of which export ship taking 70.8%. Also, this makes up 5.0% and 8.3% of global market and Chinese market each.

13 Jiangsu-based yards contracted 0.178m dwt, 43.6% of overall contracts from Jiangsu.

As of the end of February, Jiangsu's newbuilding orderbook declined to 54.56m dwt, by 24.8% y-o-y, of which export ship accounted for 85.1%. Overall orderbook in Jiangsu took 16.2% in the world and 37.2% in China.

13 yards are turned out to take 89.1% of Jiangsu's overall orderbook with 48.6m dwt.

Decreases in delivery, new order and orderbook represents how difficult situations Jiangsu's shipbuilding industry are now facing, said the Jiangsu local government.

Added, however shipbuilders are pressured by increasing labor and raw material costs and decreasing orderings, shipbuilders should make great efforts to meet 2012 delivery target of 20m dwt.

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