Chinese shipyards’ fall continues

chinese-shipyards-fall-continues

The domestic shipbuilding industry is still declining, data from the China Association of the National Shipbuilding Industry (CANSI) showed.

The country finished building 31.83 million deadweight tons of ships in the first 11 months of this year, down 12.1 percent on a yearly basis, according to information from the CANSI.

New orders declined 14 percent to 19.94 million deadweight tons, while new export orders declined 22.5 percent to 15.93 million deadweight tons, the CANSI said.

The 94 major companies monitored by the CANSI reported total sales of 288 billion yuan ($41.74 billion), down 3 percent year-on-year, while total profit dropped 9.6 percent to 2.9 billion yuan.

 



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