H1 2022 A Massive Blow For Chinese Newbuild Yards

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China’s shipbuilding output and newly received order volume both declined in the first half of 2022, but the country still claims the top spot globally, says an article published in Seatrade Maritime News.

Percentile Of Decline Volume

According to China Association of the National Shipbuilding Industry CANSI_, Chinese yards’ shipbuilding volume was 18.5m dwt for the first half of this year, declining 11.6% year-on-year; newly-received shipbuilding orders were 22.46m dwt, dropping 41.3%; orders on hand were 102.74m dwt, an increase of 18.6%.

Export Volume Fall

Shipbuilding export volume was 15.81m dwt, dropping 11.6%; newly-received export shipbuilding orders were 20.44m dwt, falling 40.2%; export orders on hand were 91.13m dwt, growing 18.2%, accounting for 85.5%, 91% and 88.7% of national volume respectively.

Major Export Ship Types

The total shipbuilding exports value was $10.43bn, dropping 5.7%.

Bulk carriers, tankers, gas carriers and containerships were the major export ship types, accounting for 68.2% of the total export value.

Global Rank

In the first six months, China’s shipbuilding output, newly-received shipbuilding orders and orders on hand in deadweight tonnage accounted for 45.2%, 50.8% and 47.8% of global market share, and the amount in gross tonnage accounted for 42%, 47.7% and 41.5% the world volume, ranking the country’s yards in first place globally according to CANSI.

External Uncertainties

The association forecasts that further external uncertainties will the affect shipbuilding industry’s development, with the global shipping market activity expected to remain strong the newbuilding market should deliver a high volume in the second half of this year.

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Source: Seatrade Maritime News

 

 

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