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China’s shipbuilding turnover up, tonnage output down

Shanghai: China’s shipbuilding industry has seen a slight boost in turnover, despite a slight dip in tonnage output during the first eight months of this year.

China’s shipbuilding turnover up, tonnage output down

Shanghai: China’s shipbuilding industry has seen a slight boost in turnover, despite a slight dip in tonnage output during the first eight months of this year.

China’s shipbuilding turnover up, tonnage output down
15 October 2014 - 20:39

Shanghai: China’s shipbuilding industry has seen a slight boost in turnover, despite a slight dip in tonnage output during the first eight months of this year.

Between January and August, the gross industrial output value of the 87 major shipbuilding enterprises in China saw growth of 9.8% year-on-year (y-o-y) to RMB 263.7bn. The gross output of ship manufacturing increased by 4.1% to RMB 129.5bn, according to data from the China Association of the National Shipbuilding Industry (CANSI).

This was in spite of an 18.1% y-o-y decrease in aggregate shipbuilding in China, which fell to 22.08m DWT in total.

Shipbuilding output for export accounted for just over 86% of China’s total output. New vessels for export totalled 19.07m DWT between January and August, down 7.3% y-o-y. The value of these exports was 4.5% more than during the corresponding period of 2013, with a value of RMB 111.6bn this year.

New vessel orders placed during the eight-month period totalled 47.4m DWT, up 35.8% y-o-y.

Export orders for new vessels increased by 50% y-o-y, totalling 44.65m DWT, and constituted 94.2% of total new ship orders at Chinese yards.

At the end of August, there was a total of 153.7m DWT on order at Chinese shipbuilding enterprises, the CANSI data says, an y-o-y increase of just over one-third, and up 17.3% on the tonnage on order at the end of 2013.

Of these orders, vessels for export accounted for 146.16m DWT – equal to 95.1% of China’s shipbuilding orderbook at the end of August. There was a 57.2% increase in tonnage on order compared to the same period last year.

Big gains in turnover were also seen in China’s ship equipment and repair sectors. The gross output of the ship equipment industry grew 15.8% y-o-y to RMB 21.5bn over the eight-month period. The gross output of the ship repair sector increased 14.4% y-o-y to RMB 8.44bn. 

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