Orders at Chinese Yards Tumble

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According to statistics released by China Association of the National Shipbuilding Industry (CANSI), Chinese shipyards received new orders of 950,000dwt in the first two months of 2016, a sharp decline of 75.1% year-on-year.

China’s 51 leading shipyards secured 900,000dwt, representing 94.7% of the country’s market share.

Specifically, the Chinese yards received orders amounting to 950,000 dwt. At the end of February, the country’s shipbuilding orders stood at 118.98 million dwt, down by 19.4% against a corresponding period from last year and down 3.3% compared with the end of 2015.

CANSI’s data show that the 51 leading shipyards, out of around 300 in the country, booked 900,000 dwt of the overall order intake in January and February 2016, 94.7% of the country’s market share. The trend also shows inclination of owners to order at fewer shipyards which might lead the sector into further consolidation.

In terms of ship completion, 42 million dwt were completed in the said period, also a decline when compared to the corresponding period from 2015 worth 24.4%.

In conclusion, 94 main shipyards posted income of CNY 35.7 billion (USD 5.4bn), down 7.5%, whereas the total profit totaled in CNY 160 million, down 46.7%.

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