Thursday, November 1, 2012

[Ship Building] China Keeps Shrinking

China Keeps Shrinking

Chinese shipbuilding industries are keep falling.

China Association of National Shipbuilding Industry (CANSI) reported that Chinese shipyards delivered a total of 41.58m dwt, down by 18.5% year-on-year, during the first nine months of 2012.

During the same period, Chinese shipbuilders contracted 15.41m dwt of newbuildings, 46.9% less than the same period of last year.

As of the end of September, orderbook stood at 120.9m dwt, declined by 28.4% y-o-y and by 19.4% against the end of 2011.

During January-September period, China's 1,636 shipbuilding-related companies over a certain level's total production value of completed products increased by 2.6% year-on-year to CNY 584.5bn ($93.6bn) - shipbuilding industries dropped by 1.9% to CNY 439.5bn, ship equipment increased by 22.6% to CNY 85.5bn, ship repair rose 11.1% to CNY 13.3bn, ship conversion grew by 20% to CNY 22.3bn and offshore fabrication increased 17.8% to CNY 20.6bn.

During the same period, total export from shipbuilding-related companies fell down by 11.6% y-o-y to CNY 203.5bn - shipbuilding declined by 12.6% to CNY 185.6bn, ship equipment up by 9.3% to CNY 8.51bn, ship repair down by 1.5% to CNY 3.27bn, ship conversion dropped by 12.1% to CNY 1.93bn and offshore fabrication sharply grew by 45.6% to CNY 1.44bn.

Meanwhile, Chinese shipyards delivered 34.34m-dwt export ships from January to September, down by 20.2% on the same period of last year. Chinese inked 12m dwt of export orders, which declined by 44.5%, as well. Orderbook of export ships decreased by 27% to 101.2m dwt at the end of September.

Export ships accounted for 82.6%, 77.9% and 83.7% of total delivery, new order and orderbook.

Published : October 31, 2012

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