China’s shipbuilding output in the Jan-Nov period fell by 2.6pc to 33.24mn dwt from the prior period amid a 8.7pc drop in new orders undertaken by the industry, according to China’s Association of National Shipbuilding Industry (CANSI) data. In the Jan-November period, the decline in shipbuilding completion volumes narrowed but ship orders in-hand have dipped.
New ship orders fell to 22.52mn dwt, down 8.7pc in the Jan-Nov period from the prior period. Ship orders in-hand were 70.94mn dwt as of November-end, a decline of 11.1pc from the prior period and down by 13.1pc compared to the end of 2019. There is tough competition between Chinese and Korean shipbuilders for new orders.
China’s ship exports in the Jan-Nov period fell by 5.8pc to 30.03mn dwt from the prior periods. Export orders declined by 13.5pc to 19.77mn dwt from the prior period.
Exports formed 90.3pc, 87.8pc and 91.8pc of China’s total shipbuilding completions, new ship orders and orders in-hand, respectively.
In the Jan-Nov period, China’s shipbuild completions, new orders, and orders in-hand accounted for 40.4pc, 50.8pc and 46.9pc of the global shipbuilding market share, respectively.