Orders for new vessels in China continue to grow rapidly
According to the latest published data, in the first quarter of this year, orders from Chinese shipbuilders for new vessels grew rapidly compared to last year and reached 15.18 million deadweight tons (DWT), an increase of 53% compared to the same period last year, of which 88.1% was for export. China National Shipbuilding Industry Association (CANSI) through its official WeChat account.
According to CANSI, Chinese shipyards' order book grew by 15.6% to 114.52 million dwt by the end of March, with export orders accounted for 91% of the total volume.
In January-March, the country's shipbuilders completed the construction of ships with a total deadweight of 9.17 million tons, which is even lower by 4.6% compared to the same period last year, but significantly reduced compared to a year-on-year drop of 35.3% in the first two months of this year. year. And export orders accounted for 85.4% of the total, according to the association.
The total value of Chinese ships for export reached $4.82 billion in the first quarter, up 4.9% year-on-year from with an annual decline of 25% in January-February. Among total exports, bulk carriers, oil tankers and container ships still maintain their dominant positions, according to CANSI.
China continued to lead the world in ship production during the first quarter: its new orders, the number of outstanding orders and completed ships account for 62.9%, 50.8% and 43.5% of the world's total ships respectively in terms of deadweight, all of which are ranked first in the world according to the association.
Concentration in China's shipbuilding industry remained at a high level during the first three months, with the country's top 10 shipbuilding enterprises accounting for 72.9% of the total number of ships built in the country.
By region, shipbuilders in Jiangsu, Shanghai, Shandong in east China, Liaoning in northeast China and Guangdong in south China contributed 94.9% of the country's total shipbuilding during the first quarter, the release said.
According to CANSI statistics, for March alone orders for new ships from Chinese shipyards totaled 5.93 million dwt, up 28.1% from the previous month, and ship completions reached 4.94 million dwt, up 133% from the previous month.