Plunge in Newbuild Orders for China
The newbuilding orders for China’s shipbuilding yards plunged by 25.4% during the first three months of 2017 compared to the same period a year earlier, according to data provided by the China Association of the National Shipbuilding Industry (Cansi).
For the first quarter ended 31 Mrach, Chinese yards recorded 5.54m dwt in new vessel tonnage.
However, in completed newbuild tonnage, they produced a total of 15.67m dwt of vessel capacity during the first three months, representing a jump of 87.7% compared to the previous corresponding period.
The yards’ order backlog dropped by 26.3 percent to 88.65 million dwt, when compared to the same period a year earlier, and by 11% when compared to the order backlog seen at the end of 2016.