China's Shipbuilders Saw Output, Orders, Decline in Q1 2012

Xinhua
Thursday, May 24, 2012

Chinese shipbuilding companies saw sharp declines in output and new orders in the first quarter, as the industry felt the global and domestic slowdowns

New shipbuilding orders fell 48.7 percent year on year to 5.59 million deadweight tonnes (DWT) during the first three months, according to a report released by the National Development and Reform Commission (NDRC), China's top economic planner.

Ship owners around the world tend not to expand their fleets when global demand for goods and services remains sluggish.

For China's shipbuilders, completed shipbuilding volume also fell 22.5 percent year on year to 11.21 million DWT in the first quarter, with incomplete orders declining 25.3 percent year on year to 141.94 million DWT by the end of March, according to NDRC data.

Due to slack external demand, ships delivered overseas tumbled 22.3 percent annually to 9.47 million DWT, with the export shipment falling 8.3 percent annually to 64.3 billion yuan.

The NDRC said severe challenges for the country's shipbuilding industry loom ahead, as insufficient external demand, shrinking orders and increasing defaults on contracts will continue to squeeze the sector's profitability.
 



 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Pair of ASD Tugboats Delivered to Keppel-Smit

The ASD tugs KST Passion and KST Pride were were delivered to their owner, Keppel-Smit Towage Pte. Ltd of Singapore in October 2014. The two vessels are the first

New Portable Power System from SWE

Southwest Electronic Energy announced the launch of POW-R Tote, a rugged, lightweight, 12V/117Ah portable power system which provides compact-convenient energy

Energy Storage System Ordered for LNG Battery Hybrid Ferry

Norwegian hybrid to be the first LNG battery ferry to operate on commercial routes Corvus Energy, Siemens AS and Fjord1 have announced the award of the contract for the Fannefjord LNG hybrid ferry.

Finance

OW Bunker Bankruptcy has ‘Limited Impact’ on Monjasa

Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds

Sustainability Report: Carnival Ahead of Emissions Goal

Carnival Corporation & plc released a report today detailing its sustainability efforts, including initiatives which enabled the company to meet its corporate goal

EU Funds Study into New Aberdeen Harbor

The EU's TEN-T Program will invest over $940,000 for development studies for a new harbor at Nigg Bay in Aberdeen, Scotland. The harbor is to support the existing

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1079 sec (9 req/sec)