China’s new ship building orders increased by 4.1pc in January to April period to 9.88mn dwt from the year ago period, according to the China Shipbuilding Industry Association. Global shipbuilding market is sluggish due to the COVID-19 pandemic, but China’s new orders have increased marginally in April.
During the first four months of 2020, China’s shipbuilding rate dropped by 17.1pc to 10.98mn dwt from the prior year period. At the end of April, ship orders in hand were 80.56mn dwt, declined by 5.8pc from the previous year.
From January to April, China’s completed ship exports were down by 18.5pc to 10.1mn dwt from a year ago. China’s in process export ship orders rose by 1.8pc to 8.9mn dwt from the previous year.
At the end of April orders for export ships were 74.68mn dwt, down by 3.2pc from the prior year month. In first four months, China’s export of ships accounted, shipbuilding completed, new orders and orders in hand were 92pc, 90.1pc and 92.7pc respectively.