Press digest

2022 November 25

Chinese yard newbuildings orders down 40% in first 10 months

Katherine Si

Shipbuilding volume of Chinese yards was 30.87m dwt for the first ten months of this year, declining 3.6% year-on-year.

Newly-received shipbuilding orders were 37.4m dwt, declining 39.2% year-on-year. Orders on hand were 104.4m dwt as the end of October, an increase of 6.5% year-on-year.

Shipbuilding export volume was 25.92m dwt, dropping 13.4%; newly-received export shipbuilding orders were 33.88m dwt,declining 39%; export orders on hand were 93.37m dwt, growing 6.6%, accounting for 84%, 90.6% and 89.4% of national volume respectively.

The total shipbuilding export value was $17.58bn, dropping 2.2%. Bulk carriers, tankers and containerships were the three major export ship types.

During Jan-October, China’s shipbuilding output, newly received orders and orders on hand accounted for 45.8%, 54.3% and 48.7% respectively in global shipbuilding market.

Fifteen major shiprepair yards have repaired 2,651 vessels in the first ten months, only a slim 1% increase year-on-year.