Orders at Chinese shipyards slumped 72.6% year-on-year to 11.19 million dwt in the first six months of 2015, a China’s Ministry of Industry and Information Technology (MIIT) said on 13 July.
New orders for sea-going vessels totalled 4.13 million compound gross tonnage (CGT) during the same period, down 66.5% y/y from a year ago, it said.
The orderbook of the Chinese shipbuilders fell 9.2% year on year to 138.07 million dwt at the end of June. The orderbook of sea-going vessels totalled 43.30 CGT at the end of the June, of which the orderbook for exports accounting for 95%.
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The plunge in new orders came after Chinese shipbuilders ended 2014 with a year-on-year 14.2% fall in awarded orders, as buyers cut back on spending on new ships since late 2014.
Also, the completed tonnage at the Chinese yards grew 6.3% year on year to 18.53 million dwt during the same period. Among the total completed tonnage, the sea-going vessels amounted to 6.37 million CGT.
This post was sourced from IHS Maritime 360: View the original article here.