With the delivery of the 206k dwt Capesize m.v. Dan May, Shanghai Waigaoqiao Shipbuilding has set a new record among Chinese builders for annual deliveries crossing the 8m dwt mark.
It is a difficult task to break through the 8m output in the depressed global shipbuilding market and overall slow economy, which is the miniature of Chinese shipbuilding industry sweating in the intense global competition.
China Ship Marketing Research Center integrate statistics from relevant institutions and point out that Chinese newbuilding output still leads the market till now.
With the product structure changes from this year, demand for high-tech and high value-added vessels goes up significantly. On the other hand, the traditional bulker and tanker markets experience declines with growing overcapacity and depressed freight rates. S. Korea sweeps most of the high value-added ship type as large boxships, LNG carriers, drilling ships and other offshore plants, bringing great pressure to Chinese shipyards.
According to China Ship Marketing Research Center, from January to November, Chinese national newbuilding deliveries stand at 61.77m dwt, occupying 42% globally, while Korean shipyards totally delivered vessels of 51.21m dwt, 34.8% of global volume. In the period, Chinese shipyards win new orders of 33.69m dwt which is 44.9% of global new orders, while S. Korea received 27.48m dwt which accounted for 36.8%. Till the end of November, China took the lead of orderbook by 162.7m dwt and 43.5% proportion while S.Korea fellow by 119.96m dwt and 32.1%.
However, the new orders in Chinese shipyards’ hand are projected to lag behind S. Korea. China and S. Korea enter into neck-and-neck competition for No. 1 shipbuilding country as the year draws to an end.
China is still very hopeful to keep the global lead in shipbuilding but it has long way to go in developing high-tech, high value-added and green ships.