According to CANSI, China ship industry has seen in overall weakness in the first five months this year. The three main shipbuilding indices, industrial output growth, ship export and economic growth have all been greatly depressed in the global shipping market downturn.

By the end of May, national new orders and newbuilding output totaled at 9.54m dwt and 22.53m dwt, falling by 47.3% and 10.1% separately year on year. Order catalog fell by 27% to 134m dwt, 10.4% down since the end of 2011.

In the period, national ship industrial output reached CNY319.5bn, increasing by 5.1% against the same period of last year. Shipbuilding, ship equipments, ship repairing, ship conversion and offshore plants respectively realized industrial output value of CNY240.6bn, CNY45.2bn, CNY7.08bn, CNY 13.5bn and CNY11.3bn. The traditional shipbuilding industry has seen the hardest hit.

In the first five months, China’s national ship export volume came up to 18.79m dwt, 11.5% down on year-on-year basis. New export orders and export orderbook have decreased by 48.4% and 27% to 6.84m dwt and 115m dwt separately. 83.4% of the delivered vessels, 71.7% of new orders and 85.3% of orderbook were for export.