Chinese shipyards boost newbuilding orders in first nine months

New shipbuilding orders at China’s shipyards continued to build up with figures rising in the first nine months of 2014 over the year-ago period, according to data from the ministry of industry and information technology.

From January to September this year, Chinese shipyards landed new shipbuilding orders with a total tonnage of 52.49m dwt, a jump of 37.9% compared to the same period of 2013.

The existing shipyard orderbook in the nine-month period ended 30 September 2014 stood at 154.71m dwt, an increase of 35.7% year-on-year and up 18.1% compared to the end of 2013.

In completed shipbuilding jobs, Chinese yards produced 26.06m dwt in capacity of vessel tonnage, down 14.9% compared to the previous corresponding period, the ministry data showed.

In the first three quarters of this year, Chinese shipbuilders accounted for 53.2% in global market share for newbuilding orders, 47.6% in global share for existing orderbook, and 38.3% for completed vessel tonnage.

Meanwhile, 87 main yards monitored by China Association of the National Shipbuilding Industry (Cansi) generated a combined revenue of RMB213.3bn ($34.7bn) in the first nine months of this year, representing an increase of 13.5% year-on-year.

Net profit, however, fell 11.5% year-on-year to RMB3.8bn due mainly to low newbuilding prices and rising operating costs.
Source: Seatrade Global