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Chinese shipyard newbuilding orders decline 17% in Jan-Feb

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Shri Vaibhavi Logistics

During the first two months of this year newbuilding orders received by China dropped 17% year-on-year, bringing to an end 12-months of growth in 2021

According to the statistics released by China Association of the National Shipbuilding Industry (CANSI), China’s newly received order volume was 5.65m dwt for Jan-Feb, declined 17% year-on-year; the shipbuilding output was 6.53m dwt, also dropped 9.6%.

As the end of February, orders on hand were 97.9m dwt, an increase of 38.8%.

Shipbuilding export volume was 6.06m dwt, declined 8.9%, while newly received export shipbuilding orders were 5.61m dwt, an increase of 15%. Export orders on hand were 86.94m dwt as the end of Feb, up 39.6%.

Shipbuilding export volume, new orders for export and export orders on hand accounted for 92.8%, 99.3% and 88.8% of national volume respectively.

According to CANSI as of the end of Feb, China’s shipbuilding output, newly received orders and orders on hand respectively accounted for 49.9%, 49% and 47.7% of the global shipbuilding market share.

Fifteen major Chinese ship repair companies completed a repairing volume of 440 vessels for the first two months, declined 13.7% year-on-year.

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