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China’s Jan-Oct new vessel orders down 26% on year

Chinese shipbuilders received fewer new vessel orders over January-October, with the ten-month total reaching 21.2 million dead weight tonnes (dwt), down 25.6% on year, according to the latest statistics from China Association of the National Shipbuilding Industry (CANSI). In October alone, new vessel orders plunged by 54% on month to 1.72 million dwt.

Among the total of new orders over this year’s first ten months, those for export amounted to 19.7 million dwt, being down 22.1% on year. Exports accounted for 93% of total orders. “The sharp month-on-month decline in (China’s) new vessel orders was partly due to the weakness in the global shipbuilding sector.
Source: My Steel

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