China’s shipbuilding output growth slows in Jan-July, new orders down 39%

Thursday, 29 August 2019 11:06:59 (GMT+3)   |   Shanghai

In the January-July period of this year, the aggregate shipbuilding output in China amounted to 22.11 million dead weight tons (dwt), up 1.4 percent year on year, but with this growth rate 2.8 percentage points lower than that recorded in the first half of the year, as announced by the China Association of the National Shipbuilding Industry (CANSI).

In the given period, China’s new ship orders amounted to 14.70 million dwt. Although the pace of decline of new orders has decreased gradually, the overall market fundamentals have not changed much. New orders for the period dropped by 38.9 percent year on year, which was 8.0 percentage points slower than the decrease of 46.9 percent recorded in the first half of the year. As of the end of July, ship orders on the books of Chinese shipbuilding enterprises totaled 81.90 million dwt, down 8.4 percent year on year, with this decrease 1.9 percentage points smaller than the decline of 10.3 percent posted for the first six months.

In the January-July period of the year, new ship orders for export accounted for 93.0 percent of total new ship orders received, while as of the end of July ship orders for export held a share of 91.0 percent of total ship orders on the books of Chinese shipbuilders.

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