Chinese shipbuilders' delivery of new building steel ships for domestic owners sharply increased last month, reports Asiasis.
According to a latest report from the National Bureau of Statistics of China, during October, Chinese shipyards delivered overall 7.6 million DWT of steel ships to local shipowners, up by 20.3% year-on-year and up by 45.91% month-on-month.
Moreover, new orders also increased during the same month.
Statistical data from Glinfo.com showed that Chinese shipyards contracted a total of 59 newbuildings, up by 19 vessels from September. Among them, 15 low-margin new buildings, up by seven vessels month-on-month, and nine offshore drilling platforms were contracted.
Local sources attributed shipping and shipbuilding woes on the troubled economy in the US, along with an uncertain global economy, forecasting that the market downturn will not be recovered in the short term.