Chinese orders jump

Orders for new ships have surged at Chinese yards in the first three quarters, as deliveries have dropped.

Shipbuilders won new contracts for vessels with a total capacity of 52.49m dwt to 30 September, up 38\% year-on-year, according to figures from Sinocast.

Yards handed over completed ships of 26.06m dwt in the same period, a fall of 14.9\% from 2013.

The combined orderbook stood at 154.71m dwt at the end of September, a rise of 35.7\%.

Vessels contracted by owners outside China made up more than 95\% of the total.

Despite this small figure, domestic owners like China Cosco, CMES and CSDC have all been busy ordering at Chinese yards this year.

source:tradewindsnews.com