China's Shipbuilding Hub Faces Precipice

China Shipbuilding Industry
Monday, May 20, 2013

Jiangsu Province’s Economic and Information Technology Commission reviews Q1 2013 province-wide  shipyard finances.

The review of the shipbuilding industry’s performance showed that 44 privately-owned shipbuilders out of 66 failed to win new orders and none of major seven builders could ink a contract, with 30% of large corporations recording a loss, reports China Shipbuilding Industry Co.

Shipbuilders’ profit margins in Jiangsu appear to be sharply decreasing from 22% recorded in 2010 and four companies out of thirteen majors reported a loss during the first quarter of this year.

Although the province’s newbuilding delivery was up on the same quarter last year, the scope of increase has plummeted with decreasing orderbook standing at 832 vessels of 37.912-million dwt with a remarkable decrease of 27.7% year-on-year.

Recently, according to this source Jiangsu-based COSCO (Lianyungang) Shipyard was reported to have shut down due to a protracted loss. It appears that shipyards which have slots on schedule for a year and a half are resorting to the expedient of delaying lead time and several small while mid-sized yards face closing their businesses.

Source: China Shipbuilding Industry
 

 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Shepler’s New Ferry Takes Shape

Sparks are flying on the bulkhead and engine room of the $3.8 million, 85-foot Miss Margy, the newest addition to the Shepler’s Mackinac Island Ferry fleet, at Moran Iron Works.

The Art of Propeller Making

The world’s biggest propellers have their cradle in the North of Germany. MMG – Mecklenburger Metallguss GmbH – has manufactured for more than 65 years propellers for ships,

LEEVAC Launches First PSV for Tidewater

On Tuesday, January 27, LEEVAC Shipyards Jennings, LLC launched hull 367, a platform supply vessel (PSV) designed by LEEVAC Design Services, LLC (300 DE-52 HAB PSV).

Finance

Denmark's Budget Gap May Flirt with EU Limit if Oil Stays at $50

Denmark's government estimates its budget would lose 7.5 billion Danish crowns ($1.1 billion) if oil prices remained around $50 a barrel, according to a document

Sweden-Poland Maritime Link Improved

The EU's TEN-T Program will co-fund with over €2 million the development of the sea ports of Trelleborg (Sweden) and Świnoujście (Poland), to increase their competitiveness and sustainability,

West Coast Port Talks Clear Hurdle

Shipping companies and the union for 20,000 dockworkers at nearly 30 U.S. West Coast ports have cleared a major hurdle in their protracted labor talks, clinching

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.2037 sec (5 req/sec)