China shipbuilding orders surge 251.7% in Q1, orders account for almost half of the world

xizhimen · Jun 2, 2021

China shipbuilding orders surge 251.7% in Q1, orders account for almost half of the world

China’s newly received shipbuilding order volume was 17.2m dwt for the first three months of this year, a 251.7% increase year-on-year.
Katherine Si | May 07, 2021

According to the statistics released by China Association of the National Shipbuilding Industry (CANSI), China’s shipbuilding output for the first quarter was 9.79m dwt, an increase of 39.8%. As at the end of March, the orderbook on hand was 78.48m dwt, a drop of 1.4%.

Shipbuilding export volume was 9.09m dwt, an increase of 32.7% year-on-year, newly received export shipbuilding orders were 14.69m dwt, a substantial growth of 216.5%. Export orders on hand were 69.45m dwt as the end of March, a decline of 5.1%.

Related: China shipbuilding volume up 54.7% for Jan-Feb

Shipbuilding export volume, new orders for export and export orders on hand accounted for 92.9%, 85.4% and 88.5% of national volume, respectively.

The 75 major Chinese shipyards posted a total revenue of RMB53bn ($8.2bn), up 21.6% year-on-year, while total profit was RMB110m ($17m).

As at end of March, China’s shipbuilding output, newly received orders and orders on hand accounted for 43.4%, 47.4% and 44.6%, respectively of the global shipbuilding market share.

Fifteen major Chinese ship repair yards completed a repair volume of 777 vessels for the first three months, an increase of 22.9% year on year.