China’s shipbuilding order intake plunges 72.6% in the first half

China’s shipbuilding order intake plunges 72.6% in the first half

Shanghai: China’s total new shipbuilding order volume in the first half of 2015 reached 11.19m dwt, dropping by 72.6% year-on-year, the China Association of National Shipbuilding Industry (CANSI) has reported.

In the same period, China completed export ships with a total capacity of 16.71m dwt, up 8.5% year-on-year, while total on hand volumes reached 131.2m dwt, down 8.7%.

CANSI said the largest challenges of the whole shipbuilding industry are securing financing, delivering ships on time, and contract breaches in the offshore sector.

An official from CANSI told Splash that the government should extend the current favourable policies and offer more financing to the industry. He hoped that domestic energy companies’ enlarged offshore investments could bring more orders for domestic yards.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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