China’s shipbuilding output falls 3.6% in Jan-Oct, new orders down 6.6%

China’s shipbuilding output falls 3.6% in Jan-Oct, new orders down 6.6%

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In the January-October period this year, the aggregate shipbuilding output in China amounted to 30.50 million dead weight tons (dwt), down 3.6 percent year on year, 0.9 percentage points faster than the declining pace recorded in the first nine months, as announced by the China Association of the National Shipbuilding Industry (CANSI).

In the given period, China’s new ship orders amounted to 19.80 million dwt, decreasing by 6.6 percent year on year, 7.4 percentage points slower than the decrease recorded in the January-September period. As of the end of October, ship orders on the books of Chinese shipbuilding enterprises totaled 70.96 million dwt, down 10 percent year on year, 2.0 percentage points slower than the decrease rate recorded as of the end of September.

In the January-October period this year, the aggregate shipbuilding output for export orders in China accounted for 91.9 percent of the total output.

Based on the monitored data of 75 major shipbuilding enterprises, in the first ten months of the current year the Chinese shipbuilding enterprises in question registered an operating revenue of RMB 232.1 billion ($35.4 billion), down 0.6 percent, shifting from the year-on-year rise of 1.1 percent recorded in the first nine months, and a gross loss of RMB 1.5 billion ($0.23 billion), down 45.7 percent year on year.

In the first ten months this year, the aggregate shipbuilding output in China accounted for 40.7 percent of the total shipbuilding output in the global market, keeping its leading role in the world, followed by South Korea and Japan with 29.0 percent and 26.6 percent, respectively.

$1 = RMB 6.5484

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