Posted on 20 Apr 2023
For the first quarter of this year, Chinese shipbuilders' new ship orders maintained fast growth on year to reach 15.18 million deadweight tons (DWT), jumping by 53% on year, among which 88.1% were for exports, according to the latest data released by the China Association of National Shipbuilding Industry (CANSI) via its official WeChat account on Thursday morning.
By the end of March, Chinese shipyards' order backlog posted an on-year rise of 15.6% to 114.52 million DWT, with the orders for exports making up 91% of the total, the CANSI data showed.
Over January-March, the country's shipbuilders completed vessel construction totaling 9.17 million DWT, still lower by 4.6% from the same period last year, but it had narrowed significantly compared with the on-year drop of 35.3% for the first two months of this year. And export orders accounted for 85.4% of the total, according to the association.
The total value of Chinese ships for exports reached $4.82 billion in the first quarter, up 4.9% on year as against the on-year fall of 25% over January-February. Among the total, exports of bulk carriers, oil tankers and container ships still maintained their dominant positions, CANSI pointed out.
China continued to lead the world in ship production during the first quarter, with its new orders, order backlog, and completed vessels accounting for 62.9%, 50.8%, and 43.5% of the world's total respectively in terms of DWT, all ranking first globally, according to the association's data.
The concentration in China's shipbuilding industry stayed at a high level over the first three months, with the country's top 10 shipbuilding enterprises holding 72.9% of the total completed vessels nationwide.
By region, shipbuilders in East China's Jiangsu, Shanghai, Shandong, Northeast China's Liaoning, and South China's Guangdong contributed to 94.9% of the country's total completed vessels during the first quarter, the release showed.
For March alone, Chinese shipyards' new ship orders came in at 5.93 million DWT, up 28.1% on month, and the volume for completed vessels reached 4.94 million DWT, surging 133% from the prior month, according to the CANSI statistics.
Source:Mysteel Global
