In-depth | CHINA SHIP NEWS
Ship market lacks recovery momentum, structural reshuffle remains difficult
China Association of the National Shipbuilding Industry (CANSI) gives its analysis of the economic operation of the shipbuilding industry in the first half of this year
orders due to the downturn of the global shipping market. While ship completion volumes, gross industrial output values and income from core business maintained steady growth, export volumes fell and profits shrank for the first time following 11 consecutive years of high growth. As the global economy and shipping sector lack the drive to bounce back, China’s shipbuilding industry will face an increasingly severe challenge.
I
The fundamentals of economic operations A slight increase in ship completion volumes: In the first six months of 2012, China’s shipbuilding sector completed vessels of 32.20 million dwt, up 4.2% from the same period last year; received new orders of 10.74 million dwt, down 50.3% year-on-year. Tese shipyards had shipbuilding orders in hand amounting to 125.87 million dwt at the end of June, 30.7% lower than at the same time last year, and 16% lower that at the end of 2011. Gross industrial output value showed a
steady growth: During January to June, the 1,630 shipbuilding firms of a designated size (that is with annual sales of their core business reaching RMB20 million (US$3.17 million) and above) achieved gross industrial output values of RMB397.1 billion (US$62.98 billion), up 4.7% from the same period last year. The industrial output value of
shipbuilding businesses amounted to RMB299.9 billion (US$47.44 billion), up 0.5% year-on-year. Te industrial output value of ship accessories was RMB56.5 billion (US$8.96 billion) in that period, representing a 25.8% increase from the same period last year. Te industrial output value of ship repair businesses amounted to
The Naval Architect October 2012
n the first half of 2012, China’s shipbuilding industry has strived to tackle the difficulties of winning new
Oil and gas related transportation is expected to bounce back in the near future and yards such as Hudang Zhonhwa may be well placed to benefit
RMB8.79 billion (US$1.39 billion), up 9.8% year-on-year; while the industrial output value of ship conversions amounted to RMB15.7 billion (US$2.5 billion) which was 25.4% higher than last year’s. Te industrial output value of marine
engineering
equipment was RMB14.1 billion (US$2.23 billion), down 10% year-on-year. Ship exports shrink year-on-year: In
January-June, vessels completed for export totalled 26.34 million dwt, representing a growth of 1.8% year-on-year. Export ship orders received in the period amounted to 7.99 million dwt, which was 51.3% lower than the same period in 2011. By the end of June, export ship orders on hand amounted to 107.29 million dwt, down 30.8% year-on- year. Te completion volume, new orders and orders on hand of exported vessels made up 81.8%, 74.4% and 85.3% of the country’s total respectively. In first
six months of this year, shipbuilding firms of a designated size
delivered exports of RMB142.9 billion (US$22.66 billion), down 9.3% from the same period last year. The shipbuilding sector: Delivered
exports of RMB131.5 billion (US$20.86 billion), down 9.6% year-on-year;
the
ship accessories sector delivered export of RMB5.26 billion (US$834 million), down 2.2% year-on-year; the ship repair sector delivered RMB2.18 billion (US$345 million), up 0.2% year-on-year; the ship conversion sector delivered export of RMB1.25 billion (US$198 million), down 10.8% year-on- year; the marine equipment sector delivered export amounted to RMB950 million (US$150 million), representing an increase of 48.1% from the same period last year. In the first five months of this year,
China’s ship exports amounted to US$16.73 billion, a 2.1% fall from the same period in the previous year. China exported ship products to 149 countries and regions, with Asia and Europe remaining the major
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