According to the statistics from Jiangsu Economic & Information Technology Commission, Jiangsu delivered 555 vessels of 27.13m dwt in the past year, rising by 17.9% year-o-year and accounting for 15.9% of global newbuilding output and 35.4% nationally. The province has taken lead in shipbuilding domestically for few straight years.
However, the new orders and order catalog of the province have experienced great plunge at the same time. In the period, Jiangsu received 242 vessels of 12.52m dwt, 57.9% down in volume and 363.5% down in growth rate compared with previous year. The orderbook fell by 21.4% to 1079 vessels of 58.28m dwt, occupying 16.8% of global market and 38.9% domestically.
The hysteretic influences of financial crisis have begun to work on Jiangsu’s shipbuilding industry. The new orders received and the order catalog has begun to fizzle under the depressed shipping market and the slow global economy.