Shipbuilding and related industries in Jiangsu, China appear to have a hard time recently.
According to the Jiangsu Economic and Information Technology Commission of China's latest data on December 19, a total of 419 vessels of a combined 17.59m dwt had been hit service from Jiangsu-based shipyards during the first eleven months of this year, down by 20.8% year-on-year, in dwt terms.
Among them, export ship accounted for 88.7%, which represents 13.1% of global market and 34.8% of Chinese market shares.
From January to November, Jiangsu-based shipbuilders contracted overall 157 vessels of a cumulative 3.886m dwt, plunged by 62.6% year-on-year. Of them, export ship took 82.9%, which accounts for 9.6% and 22.8% of global market and local market, respectively.
As of the end of November, Jiangsu stood on a total of 900 orders of a combined 43.877m dwt, declined by 28% on a year earlier. Export ship accounts for 84.1%, which secures 16.5% and 38.7% of global and Chinese market each.
Total production value of Jiangsu-based shipbuilding companies, during the first eleven months of this year, dropped by 9.3% year-on-year to CNY 121.43bn, while operating profit and total profit declined by 10.3% and 23.4% to CNY 99.4bn and CNY 10.56bn, respectively.
Of them, 13 major companies' production value saw a decrease by 8.9% year-on-year to CNY 78.39bn. Also, their operating profit and total profit stood at CNY 64.21bn and CNY 8.59bn, down by 17.1% and 27.5% year-on-year, each.