China new orders slow to 15.7% y/y increase

The growth of Chinese shipyard new orders decelerated to a year-on-year rate of 15.7% for the first 10 months of the year compared with the 38% y/y growth for the first nine months.

There were up to 53.7M dwt in new orders during the first 10 months of the year, the China National Association of Shipbuilding Industry (CANSI) said recently.

The orderbooks of the Chinese shipbuilders grew 30.3% y/y to 153.6M dwt in October 2014, a 17.2% increase from last year’s orderbook.

The completed tonnage at the Chinese yards fell 18.2% y/y to 28.5M dwt during the period from January to October.

Due to the soaring new orders since 2013, 87 companies in the Chinese shipbuilding industry surveyed by CANSI posted y/y rise in operating revenues of 11.6% to CNY240.0Bn ($39.2Bn), with gross profits down 9.3% to CNY4.3Bn.
Source: HIS Maritime 360