More shipbuilders in China may see losses this year, because of rising labor and raw material costs and effect of the changes in foreign exchange rates, according to the latest report released by the China Association of the National Shipbuilding Industry, China Knowledge reports.
In the first quarter, there were 1,519 shipbuilders of the designated size and above in China, of which 313 enterprises suffered losses, 3 more than in the same period of last year. Losses of the 313 companies totaled RMB 1.11 billion during the period, up 28.8% year on year.
In the first three months, the 1519 shipbuilders realized RMB 142.2 billion in core business revenue, 30.1% more than in the corresponding period of 2010. Revenue from shipbuilding business rose 27.8% year on year to RMB 106.3 billion, and that from manufacturing of ship-related products surged 40% year on year to RMB 17.8 billion.
The 1519 shipbuilders earned a combined RMB 10.3 billion in gross profits in the first quarter, up 23.4% year on year, but saw sales margin fall 0.4 percentage points to 7.2% in the first three months.
In the first four months, China's new ship orders increased 6.6% to 13.62 million deadweight tons, of which 81.2% were for exports, and its output of completed ships climbed 1.2% year on year to 18.82 million DWT, of which 85.6% were for exports.
Outstanding orders had amounted to 183.76 million DWT at the end of April, 6.2% less than at the end of 2010.
During the period from January to April, the 1519 ship companies saw gross industrial output jump 25.4% year on year to RMB 234 billion, of which RMB 180.3 billion was from the shipbuilding business, up 24.3% year on year. The export delivery value of the 1519 ship firms increased 19.5% year on year to RMB 101 billion during the period.
In the first quarter, there were 1,519 shipbuilders of the designated size and above in China, of which 313 enterprises suffered losses, 3 more than in the same period of last year. Losses of the 313 companies totaled RMB 1.11 billion during the period, up 28.8% year on year.
In the first three months, the 1519 shipbuilders realized RMB 142.2 billion in core business revenue, 30.1% more than in the corresponding period of 2010. Revenue from shipbuilding business rose 27.8% year on year to RMB 106.3 billion, and that from manufacturing of ship-related products surged 40% year on year to RMB 17.8 billion.
The 1519 shipbuilders earned a combined RMB 10.3 billion in gross profits in the first quarter, up 23.4% year on year, but saw sales margin fall 0.4 percentage points to 7.2% in the first three months.
In the first four months, China's new ship orders increased 6.6% to 13.62 million deadweight tons, of which 81.2% were for exports, and its output of completed ships climbed 1.2% year on year to 18.82 million DWT, of which 85.6% were for exports.
Outstanding orders had amounted to 183.76 million DWT at the end of April, 6.2% less than at the end of 2010.
During the period from January to April, the 1519 ship companies saw gross industrial output jump 25.4% year on year to RMB 234 billion, of which RMB 180.3 billion was from the shipbuilding business, up 24.3% year on year. The export delivery value of the 1519 ship firms increased 19.5% year on year to RMB 101 billion during the period.