In 2013, total new orders of ships undertook by shipbuilding enterprises in China amounted to 69.84 million DWT which increased by 242% YOY.
Dallas, TX (PRWEB) March 30, 2014
Shipbuilding industry is developing speedily in China. It has greatly contributed to industries such as water transportation, fishery and marine development since China joined WTO. Status of the industry in Chinese economy keeps rising.
The completion volume of ships in China has been increasing rapidly since the 1990s, making China one of the shipbuilding centers in the world. The number of new ship orders in China amounted to 47.6% of the global new orders in 2013, which was top of the world for 5 consecutive years. Delivery amount of new ships in China ranks the first in the world for 4 consecutive years, accounting for 40.3% of the global.
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In 2013, total new orders of ships undertook by shipbuilding enterprises in China amounted to 69.84 million DWT which increased by 242% YOY. Amount of export orders was 64.74 million DWT, up by 333% YOY. By the end of 2013, amount of holding orders in Chinese shipbuilding enterprises was 131 million DWT, up by 22.5% YOY and the holding export orders amounted to 115.41 million DWT, increased by 30.5% YOY. The completion volume of ships in China was 45.34 million DWT in 2013 which decreased by 24.7% YOY, while that of exported ships was 35.73 million DWT which dropped by 27.9% YOY.
The volume of completions, new orders and holding orders in China remained top of the world in 2013, followed by Korea and Japan. However, China's shipbuilding industry is faced with severe problems due to depression in shipping industry in recent years. The problems include global economic recession, tougher competition, overcapacity and accelerated mergers and acquisitions. Low price of orders and increasing cost of labor and raw material also deepen the crisis.
To solve the problems, Chinese government issued several documents to support the transformation and upgrading of shipbuilding industry in the aspect of old ship elimination and investment in the industry. Generally, policies of Chinese government played an important role in transformation and upgrading of the industry, which brings more orders and time for shipping and shipbuilding market to recover.
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In 2013, bulk orders in Chinese shipbuilding industry encompasses high-tech ships and special ships such as LNG ships, VLGC ships, super-large container ships, duplex stainless steel chemical vessels, marine law enforcement vessels, public service vessels and ocean fishing vessels. Shipbuilding enterprises received a large amount of bulk orders and operated in sound condition in 2013.
It is difficult to break the monopoly of enterprises from developed countries in the field of advanced equipment design and development in a short term. Status of Korean enterprises in the field of ocean engineering and equipment construction won't be changed while competition in low-end equipment market is intensive between Singapore and Chinese enterprises. Therefore, current problems for Chinese shipbuilding enterprises are the reinforcement of design and development, and the construction capability of high-end equipment.
Shipbuilding industry in China has great potential to develop in the coming years. On the one hand the cost is lower in Chinese shipbuilding industry than that in Japan and Korea. On the other hand increasing domestic demand in shipbuilding industry will attract global investment.
Through this report, the readers can acquire the following information:
-Supply and Demand in China Shipbuilding Industry
-Policy Environment for China Shipbuilding Industry
-Major Shipbuilding Enterprises in China
-Competition Status of Shipbuilding Market in China
-Import and Export of Shipbuilding Industry in China
-Forecast on China Shipbuilding Industry
The following enterprises and people are recommended to purchase this report:
-Enterprises Related to Shipbuilding Industry Chain
-Investors/Research Institutes Concerned About China Shipbuilding Industry
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