Posted on 18 Oct 2023
Chinese shipbuilders received 57.3 million deadweight tons (DWT) of new vessel orders over January-September, higher by a hefty 76.7% on year, showing the country's shipping industry has maintained steady growth in the first three quarters of this year, according to a new release from the China Association of the National Shipbuilding Industry (CANSI) on October 15.
In tandem with the surge in new vessel orders, China's shipbuilders saw their order backlog grow by 30.6% on year to 133.9 million DWT by the end of September, and the growth rate was higher than the 28.9% rise for the first eight months, the CANSI data showed.
During the past nine months, domestic shipbuilders completed vessels totalling 30.7 million DWT, up 10.6% on year, according to the release.
China's share of new orders, order backlog, and completed vessels worldwide respectively accounted for 68.5%, 54.7%, and 48.7% of the global totals over the past nine months, CANSI noted.
In terms of vessel types, bulk carriers were still the largest segment in both completed vessels and new orders over January-September, taking up 51% and 39.6% of the two totals, respectively.
CANSI also highlighted that China's shipbuilding industry concentration stays relatively high, with the country's top 10 shipbuilders winning 64.3% of its total new orders during the first nine months.
Meanwhile, shipbuilders in East China's Jiangsu, Shanghai, Zhejiang, Northeast China's Liaoning, and South China's Guangdong together contributed to 90.8% of the country's total completed vessels over the same period.
Source:Mysteel Global
