Chinese yards saw a 25.4 percent drop in newbuilding orders during the first three months of 2017 compared to the same period a year earlier, according to data provided by the China Association of the National Shipbuilding Industry (Cansi).
Only 5.54 million dwt of new orders were recorded in the first quarter of the year. However, Chinese yards saw a surge of 87.7 percent, compared to the same quarter in 2016, in completed vessel capacity as a total of 15.67 million dwt of vessels were constructed during the period.
The yards’ order backlog dropped by 26.3 percent to 88.65 million dwt, when compared to the same period a year earlier, and by 11 percent when compared to the order backlog seen at the end of 2016.
Additionally, Cansi informed that the 53 major shipbuilders secured 36.1 percent less of new orders which stood at 4.42 million dwt at the end of the three-month period, and completed 13.37 million dwt of vessel tonnage, representing a rise of 71.6 percent.