China continued to stabilize the production and operation of the shipbuilding industry in the first five months. Ship deliveries picked up month-on-month in May, according to operational data released by the China Shipbuilding Industry Association on Wednesday.
China reported shipbuilding of 14.277 million deadweight tons from January to May, a year-on-year decrease of 15.3%, according to statistics from the China Shipbuilding Industry Association.
China reported 17.692 million dwt of ship orders, down 46% year-on-year. As of the end of May, the number of ship orders being fulfilled was 102.2 million deadweight tons, a year-on-year increase of 20.2%.
"The biggest feature of the shipbuilding industry is that the final assembly is produced according to the beat. Under the influence of the epidemic, our rhythmic production has been greatly affected and some companies may have interrupted or slowed down production. In addition, the global supply chain has also been impacted to varying degrees, affecting the entire production, operation and delivery," said Li Yanqing, Secretary General of China Shipbuilding Industry Association.
From January to May, China reported a year-on-year decrease in shipbuilding completions and new orders. However, with the global shipbuilding market shrinking, the share of China's three major shipbuilding indicators in the international market has not decreased.
In terms of deadweight tonnage, China's shipbuilding completions, new orders, and orders being fulfilled accounted for 44.0%, 52.5% and 48.2% of the world market share respectively, continuing to maintain its leading position in the world.
"As the global market shrank, China's shipbuilding industry maintained steady growth in terms of new orders and orders being fulfilled. In May, with the speedy resumption of production of the shipbuilding companies in Shanghai and Jiangsu, China delivered more than 2 million DWT new ships, an increase of more than 20% year-on-yeart," said Li.
According to data provided by the China Shipbuilding Industry Association, in May, China's shipbuilding completed 2.57 million dwt, a month-on-month increase of 22.4%, and the ship export value came at 1.5 billion US dollars, a month-on-month increase of 23%.
