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

Shipbuilding

First Damen ASD 2810 Leaves for Trinidad

First delivery of Damen ASD Tug 2810, ARC Towage signed four contracts total in Barcelona, Spain On July 31, 2013, ARC Towage signed four contracts at the Netherlands

TOTE Finalizes Charter for LNG Containerships

World’s first LNG powered containerships to serve Puerto Rico TOTE, Inc. announced an agreement today between its operating companies TOTE Shipholdings Inc.

MOL, Osaka Gas’s Newbuild LNG Carrier Named

Mitsui O.S.K. Lines, Ltd. (MOL) announced that a naming ceremony for the LNG Venus, a newbuilding liquefied natural gas (LNG) carrier, was held at the Nagasaki Shipyard of Mitsubishi Heavy Industries,

Finance

Yara Completes Acquisition of OFD Holding

Yara International ASA has obtained relevant regulatory approvals and closed the acquisition of OFD Holding Inc. (OFD) allowing the integration process to start.

Vallianz Acquires OER Holdings for $28m

Vallianz Holdings Limited, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has today announced that it is acquiring OER Holdings Pte.

DryShips: Public Offering of Its Senior Secured Notes

DryShips Inc. announced today that it intends to offer senior secured notes due 2017 (the “Notes”) pursuant to its effective shelf registration statement. The Company

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Simulators 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: 0.1619 sec (6 req/sec)