China’s Shipyards Operating at Full Capacity
The major shipyards in China are operating at full capacity, resulting in potential order backlogs, reports China Daily.
The value of China's ship exports rose by over 21% year-on-year to $8.86 billion in the January-May period, according to China Association of the National Shipbuilding Industry data. Orders rose by 50% over that time, giving China a 67% world share.
Orders have included container ships, bulk carriers, LNG carriers, vehicle carriers and offshore vessels. The growth in orders has been partially attributed to shipowners looking to meet decarbonization goals.
CSSC subsidiary, Guangzhou Shipyard International, the world's largest shipbuilder by production volume, delivered a luxury roro to Moby Lines in April. The 237-meter (778-foot) vessel is claimed as the largest luxury roro passenger ship in the world.
The yard has also received orders from Eastern Pacific Shipping (EPS) for two plus two 111,000-ton LNG dual-fuel LR2 oil tankers. CSSC delivered the world's first LNG dual-fuel Newcastlemax bulk carrier and the world's first LNG dual-fuel Suez tanker to EPS in the past two years.
Yangzijiang Shipbuilding and subsidiaries, have announced that with orders received April 25, June 25 and 26, they have secured new orders for 37 vessels to be delivered between 2025 and 2027. Year-to-date, the group has secured new orders for 69 vessels worth approximately $5.6 billion, exceeding its year 2023 target of $3.0 billion.