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

shipbuilding china

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.

Source: splash247.com

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