CANSI: Ordering Activity at Chinese Yards Tumbles by Over 30 Pct

Chinese shipyards have experienced a 31.5 percent decline in newbuilding order intake reaching 9.86 million dwt in the first five months of this year when compared to the corresponding figures from last year, China Association of the National Shipbuilding Industry (CANSI) said.

At the end of May, the orderbook backlog came at 85.15 million dwt, a drop of 30.7 percent year-on-year and down 14.5 percent in comparison to the end of 2016.

However, the completion volume of new ships saw a steep growth. Namely, during the said period, the country’s shipbuilders completed 22.93 million dwt of newbuilding tonnage, up by 78.8 percent year-on-year.

According to CANSI, the country’s 53 key shipbuilders completed 19.57 million dwt equivalent of new ships, up by 63.5 percent. Nevertheless, when it comes to new orders, the key shipbuilders had secured 8.74 million dwt of new tonnage, which is down by 37 percent year-on-year. At the end of May, the yards’ orderbook reached 80.61 million dwt, dwindling by 31.6 percent.

The figures have been announced as the country’s shipbuilders launch its largest ship yet – the first 20,000 TEU containership COSCO Shipping Taurus.

World Maritime News Staff