CANSI: China's Jan-Feb new vessel orders jump 64% YoY

For the first two months of 2023, Chinese shipbuilders received new ship orders totaling 9.25 million deadweight tons (DWT), or having surged by 63.6% on year, among which 87.1% were for exports, according to the latest data released by the China Association of National Shipbuilding Industry (CANSI) via its official WeChat account on Friday morning.
Meanwhile, Chinese shipyards saw their order backlog grow by 16.1% on year to 113.6 million DWT by the end of February. Among the total orders that shipbuilders are nursing, 90.6% are for exports, the CANSI data showed.

Over January-February, the country's shipbuilders completed vessel construction totaling 4.23 million DWT, down by a large 35.3% on year, among which 82.1% were for exports, according to the association.

The latest CANSI data showed that China's top 10 shipbuilding enterprises held 71.7% of total completed vessels nationwide during the first two months. By region, shipbuilders in East China's Jiangsu, Shanghai, Zhejiang, Northeast China's Liaoning, and South China's Guangdong contributed to 96.6% of the country's total completed vessels over the same period.

The total value of Chinese ships exported over January-February came in at $2.49 billion, down 25% on year. Among the total, exports of bulk carriers, oil tankers and container ships maintained dominant positions, CANSI pointed out.

Besides, bulk carriers were the largest segment in both total completed vessels and new ship orders during the first two months, with corresponding shares of 66.1% and 28.7% of the two totals. Simultaneously, oil tankers accounted for 17% of completed ships and 26.6% of new orders, according to CANSI.

Over January-February, Chinese yards saw their total new orders, order backlog and completed vessels account for 62.8%, 50.7% and 33.3% respectively of the world's total, in terms of DWT, the CANSI data showed.

Written by Rong Zhang, zhangronga@mysteel.com

Edited by Alyssa Ren, rentingting@mysteel.com

Note: This article has been written in accordance with an article exchange agreement between Mysteel Global and SteelMint.