Posted on 29 Nov 2023
Chinese shipbuilders received new vessel orders totalling 61.1 million deadweight tons (DWT) over January-October, higher by 63.3% on year, according to the release from the China Association of the National Shipbuilding Industry (CANSI). The growth slowed from the 76.7% on-year leap for the first nine months though, Mysteel Global notes.
Among the new ship orders for January-October, 57.4 million DWT were for export, rising by 69.5% on year or accounting for 94.1% of the total orders, according to CANSI.
In tandem with the increase in new vessel orders, China's shipyards saw their order backlog grow by 28.1% on year to 133.8 million DWT by the end of October. Within the total orders nursed by the yards, 125.6 million DWT were for export, up 34.5% on year or accounting for 93.8% of the total.
During the past ten months, China's shipbuilders completed vessels totalling 34.6 million DWT, up 12% on year, among which 29.6 million DWT or 85.7% were for export, with the share higher by 14.3% on year.
For October alone, China's shipyards won new ship orders adding up to 3.7 million DWT, down 26% from September, the CANSI data showed. And the tonnage completed reached 3.8 million DWT, swelling by 38.4% on month.
China's 74 major shipbuilding enterprises under CANSI's tracking posted a 30% on-year rise in their business revenue over January-October, amounting to Yuan 321.8 billion ($45 billion). Meanwhile, their profits soared by 166.7% on year to Yuan 14.1 billion during the same period.
Mysteel's assessment showed that China's national price of 20mm shipbuilding plate reached Yuan 4,317/tonne and including the 13% VAT as of October 31, falling by Yuan 113/t from the end of September and down Yuan 201/t on year.
Over January-October, China's share of new orders won worldwide was 67%, according to the CANSI data. Chinese builders also held 54.4% of all vessel orders in backlog globally and their completed vessels accounted for 49.7% of the total completed worldwide.
China's three major shipbuilding indicators | ||
| Jan-Oct | Y-o-Y (%) |
New orders | 61,060 | 63.3% |
Completed vessels | 34,560 | 12.0% |
Order backlogs | 133,820 | 28.1% |
Source: CANSI
Source:Mysteel Global
