Chinese Shipyards’ Newbuild Orders Up By 227% For First Eight Months of 2021

A whopping surge of 227% has been registered by Chinese shipbuilders for the months of January to August, 2021. According to the report released by the China Association of the National Shipbuilding Industry (CANSI), the country’s shipbuilding output from January to August was approximately 26.26 million DWT, which is a year-on-year increase of 9%, while the newly received orders were 49.11 million DWT, an steep increase of 227.2%.

Representational Image of A Chinese Shipyard | Via: ChinaDaily

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The orderbook in hand of the Chinese shipyards by the end of August was 91.47 million DWT, a year-on-year increase of 26%.

A further increase of 10.9% was witnessed in shipbuilding export volume, which stood at 26.65 million DWT, while the corresponding newly received export shipbuilding orders increased by another 223.4%, to 44.11 million DWT.

Export orders on hand by the end of August, 2021 was about 81.04 million DWT, which translates to an increase of 21%. The shipbuilding export volume accounted for 94% of China’s national volume, while new orders and export orders accounted for 89.8% and 88.7% respectively, of the national volume.

In terms of the global shipbuilding market, China’s share of shipbuilding output, orders on hand and newly received orders stood at 44.4%, 46.5% and 51.8% respectively.

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Furthermore, China’s fifteen major ship repairing firms repaired 2,164 vessels, which is a minor year-on-year increase of 1.9%, for the first eight months of 2021.

Such steep growth has been witnessed ever since the year started, marinemonks previously reported about the rise of China’s shipbuilding indexes.

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