Chinese yards new orders down 78.9%

Chinese shipyards’ new orders slumped 78.9\% year on year (y/y) to 3.8 million dwt in the first two months of 2015, the China National Association of Shipbuilding Industry (CANSI) said on 18 March.

The orderbook of the Chinese shipbuilders grew 1.8\% y/y to 147.6 million dwt at the end of February, but 1.2\% down from 31 December 2014.

Between January and February, the completed tonnage at the Chinese yards grew 34.1\% y/y to 5.6 million dwt.

For exports, the new orders fell 78.1\% y/y to 3.5 million dwt, accounting for 90\% of overall new orders placed at Chinese shipyards.

A total of 88 companies in the Chinese shipbuilding and relevant industries surveyed by CANSI posted y/y rise in operating revenues of 25.7\% to CNY34.2 billion (USD5.5 billion) in the first two months of 2015, with gross profits down 4.8\% to CNY330 million.

Meanwhile, the industrial output values of these companies increased 6.9\% y/y to CNY53.5 billion, with those for shipbuilders, marine equipment makers, and ship repairers up 10.4\%, 13.2\% and 2.4\% y/y to respectively.

source:ihsmaritime360,com