China’s H1 new vessel orders up 3.4% on year

China’s shipbuilders received new vessels orders amounting to 12.5 million dead weight tons (dwt) in H1, higher by 3.4% on year and accounting for 67.5% of new orders placed globally during the six months, according to the latest data released by China’s Ministry of Industry and Information Technology on July 17.

Although the global market for ships remained severely challenged during January-June, the Chinese builders performed a little better thanks to competitive pricing and lower input costs, market sources said. The rise in new vessel orders was in contrast to the 1.2% on-year decline seen over January-May.
Source: MySteel