- Newbuilding orders marked a 63.8% increase year-on-year.
- Orders on hand increased to 134.09 million dwt by the end of November.
- Eighteen major Chinese ship repair yards completed a repair volume of 3,998 vessels.
Newbuilding Orders and Growth Trends
Chinese shipyards secured 64.85 million dwt of newbuilding orders, marking a 63.8% increase year-on-year. Growth in newbuilding orders slowed in the final quarter of 2023, rising by 76.7% in the first nine months but showing a decrease in the last quarter, reports Seatrade.
Shipbuilding Output and Orders on Hand
Shipbuilding output grew by 12.3%, reaching 38.09 million dwt in the first 11 months of 2023. Orders on hand stood at 134.09 million dwt by the end of November, reflecting a 29.4% increase.
Export Dynamics
Shipbuilding export volume, new orders for export, and export orders on hand accounted for 84%, 94.2%, and 94.6% of the national volume, respectively.
Global Market Share
China’s shipbuilding output, new orders, and orders on hand accounted for 50.1%, 65.9%, and 53.4% respectively of the global market share in deadweight tonnage during the first eleven months of 2023.
Financial Performance
The 74 major Chinese shipyards generated a total revenue of CNY372.4bn ($52bn), marking a 29.9% increase from January to November.
Total profit surged by 141% year-on-year, reaching RMB16.5bn ($2.3bn).
Ship Repair Yards
Eighteen major Chinese ship repair yards completed a repair volume of 3,998 vessels in the first eleven months, representing a 2.8% increase year-on-year.
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Source: Seatrade
