Shipping article(s)
Rating
CHINA SHIPBUILDING OUTPUT DROPS 9.4% IN FIRST SEVEN MONTHS OF 2020
August 28, 2020
China saw it’s three major shipbuilding indexes all declined in the first seven months of 2020 as orders weaken due to the ongoing impact of the coronavirus on global trade.
The shipbuilding output for the first seven months to July was 20.03m dwt, recording a drop of 9.4% year-on-year; while newly received order volume was 13.99m dwt, also dropping by 4.8% according to data from the Association of China’s National Shipbuilding Industry (CANSI).
China’s accomplished shipbuilding output, newly received orders and orders in handhold makes up 37.3%, 67.5% and 48.6% of global shipbuilding market share.
As the end of July, the order book on hand also decreased by 7.7% to 75.62m dwt.
Shipbuilding export volume was 18.51m dwt saw a similar dip of 0.5% compared to the same period in 2019, while newly received export shipbuilding orders were 12.62m dwt, dropping 7.7%.
Meanwhile, the export orders in hand were 69.65m dwt at the end of July, registering a 6.5% drop, accounting for 92.4%, 90.2% and 92.1% of national volume respectively.
