chinese shipyard
Hot Keywords
2012-11-14 09:09:35

Many Chinese shipbuilders flounder in the face of a declining world shipping slowdown according to the latest industry reports.
Production at Chinese yards, the world's biggest shipbuilders by tonnage, declined steeply during the first three quarters of the year, reports 'China Daily'.
During the period, finished capacity dropped by 18.5 percent from last year to 41.58 million deadweight tons, and new orders decreased by 46.9 percent year-on-year to 15.41 million deadweight tons, according to the latest data recently released by the Ministry of Industry and Information Technology.
In the meantime, Chinese yards' order book stood at 121 million deadweight tons by the end of September, down 19.4 percent from the amount at the end of 2011.
Industry analysts blamed the industry woes on a glut of vessels, rising oil and other costs as well as uncertainties in world economic growth caused by Europe's debt troubles and China's economic slowdown.
Tan Zuojun, former general manager of the China State Shipbuilding Corp, another large State-owned shipbuilder, estimated that at least half of China's more than 3,400 shipyards will go bankrupt within the next three years.
Some industry analysts were alos pessimistic about China's shipbuilding industry prospects, saying that only 300 of the biggest yards in the country will still be operating when the market starts to improve.

2012-11-09 10:28:45

According to Golden Destiny, China secured new orders for 125 vessels in the first nine months of this year, surpassing Greece by 28 vessels.
China won new orders for 67 bulkers, 27 tankers, four LNG carriers, 18 containerships, two passenger ships and four offshore plants by the end of this September. Orders for tankers boomed by 325% against the same period of last year due to the large orders from compatriot state-owned companies. On the contrary, orders for bulkers declined by 76%.
In the same period, Greek shipyard totally secured orders for 40 bulker, 20 tankers, 15 gas carriers, 20 boxships and two PCTCs. New orders for containerships see a rise of 250% year on year while orders for gas carriers dropped by 100%.
In the period, China owners invest a total amount of $3.64bn in newbuilding sector while Greece invests $3.80bn which is much lower than the total investment of $8.0bn in last whole year. Besides, Golden Destiny reveals that bulker and tanker are still the main sector Greece invests in, which accounts for 62% of the total.
Overall, global newbuilding market is on the downturn: the average order volume per quarter has declined to 350 vessels from 445 vessels.

2012-11-07 10:32:08

China's five major listed shipyards turn out to have seen poor financial records during the first three quarters of 2012.
According to China Association of National Shipbuilding Industry (CANSI), the China State Shipbuilding Corporation (CSSC), Guangzhou Shipyard International (GSI), Rongsheng Heavy Industries, Sainty Marine, except China Shipbuilding Industry Co (CSIC), have seen decrease in earnings by over 65%, on average.
During the first nine months of the year, CSSC has recorded CNY 18.85bn ($3.02bn) of operating revenue, down by 9.7% year-on-year, and CNY 546m of net profit, plunged by 70.3%.
GSI's operating revenue and net profit declined by 20.8% and 89.4% to CNY 4.83bn and CNY 43.4m each and Sainty Marine's operating revenue and net profit dropped by 15.05% and 65.14% each to CNY 1.66bn and CNY 56.71m.
As for Rongsheng, its nine-month revenue fell to CNY 6.49bn, with the operating loss standing at CNY 482m. Net profit and total profit remained at CNY 25.69m and CNY 58.3m, respectively.
On the other hand, unlike other shipyards, CSIC has not decreased much in net profit.
Its operating revenue slightly rose by 1.4% year-on-year to CNY 49.01bn, while net profit decreased by 20.3% to CNY 3.62bn.
Due to diversified product mis of warship, offshore, energy, etc., CSIC has succeeded to balance off losses from traditional commercial ship segment.

2012-10-31 09:20:34

Chinese shipyards, troubled by the declining world shipping industry, have sunk deeper into their woes, according to the latest industry data.
Industry analysts and companies, meanwhile, expect to see the situation continue to worsen until early next year and are expressing doubts that a substantial recovery will arrive in the next two to three years.
Production at Chinese yards, the world's biggest shipbuilders by tonnage, declined steeply during the first three quarters of the year, official data show.
During the period, finished capacity dropped by 18.5 percent from last year to 41.58 million deadweight tons, and new orders decreased by 46.9 percent year-on-year to 15.41 million deadweight tons, according to the latest data recently released by the Ministry of Industry and Information Technology.
In the meantime, Chinese yards' order book stood at 121 million deadweight tons by the end of September, down 19.4 percent from the amount at the end of 2011.
Industry analysts blamed the industry woes on a glut of vessels, rising oil and other costs as well as uncertainties in world economic growth caused by Europe's debt troubles and China's economic slowdown.
These influences have put a dent on world shipping demand and made shipowners reluctant to order new vessels, they added.
"The overall demand is growing, but the global trade is growing at a slower pace than we used to see," Lars Rober Pedersen, deputy secretary-general of the Baltic and International Maritime Council, the world's largest association of shipowners, said in a recent interview.
Sun Bo, a senior executive with China Shipbuilding Industry Corp, one of the country's largest shipbuilding conglomerates, said: "Last year there was still a demand for more sophisticated vessels. This year, market demand is weak for all kinds of vessels."
He said the market will be even more difficult at the beginning of next year.
"A recovery is unlikely to happen within the next three years, and only big shipyards with lots of orders are likely to survive."
Tan Zuojun, former general manager of the China State Shipbuilding Corp, another large State-owned shipbuilder, estimated that at least half of China's more than 3,400 shipyards will go bankrupt within the next three years.
Some industry analysts were even more pessimistic about the industry's prospects, saying that only 300 of the biggest yards in the country will still be operating when the market starts to improve.
Zhang Guangqin, chairman of the association, has called on the banking sector to support the country's shipbuilders, particularly saying that financing should be used to secure orders from foreign shipowners and ship operators.

2012-10-29 15:49:59

According to Danish Ship Finance institute (DSF), global shipbuilding market is expected to recovery to the level of 2008 by the end of 2014. Besides, DSF points out that Chinese private small and medium shipyards are mostly likely to be hit most heavily in the recession.
The Copenhagen-based institute estimates that global shipyards are close to word out orders at hand. About 9% of global shipbuilding capacity is projected to close in 2013 if current ordering activities continue and 11% in 2014.
DSF indicates that the private small and medium shipyards in China will be the center of the adjustment. In the first eight months, about 138 out of the 622 shipyards in operation received no order, accounting for 35% of global builders.
According to DSF, about 4% of Chinese shipyards are to go bankruptcy in 2012 and 5% in Korea.

2012-10-09 13:19:23

Latest statistics from the China Association of the National Shipbuilding Industry (CANSI) show some signs of a pick up for the nation’s beleaguered yards. Orders in August were the highest monthly total for the year. A total of 2.95m dwt of newbuilds were ordered. Nevertheless, this represents a decline of 34% year-on-year.
Chinese shipbuilders contracted a total of 14.59m dwt in the first eight months, down by 48% year-on-year.
Meanwhile, Chinese shipyards delivered 2.34m dwt in total during August, down by 50% compared with the same month of 2011.
Chinese shipbuilders’ backlog stood at 123.83m dwt as of the end of August, similar to the end of July, but down 29.6% year-on-year.
With the sudden rush in September by the big state-run lines to order VLCCs for a giant pool, as exclusively reported by SinoShip News, September figures from CANSI are likely to be better than August.

2012-09-18 15:15:09

DESPITE news a 50 per cent plus slide in shipbuilding orders, increased shipyard bankruptcy filings and an industry blacklisted by banks, the China Association of the National Shipbuilding Industry (CANSI) remains confident about the future.
"Ocean shipping is still the most cost-effective means of transportation. As long as the sea does not dry up, there will be shipbuilding business", said CANSI chairman Zhang Guangqin.
Statistics show, he conceded in an interview, that from January to July, China took 11.64 million deadweight tonnes in new orders, 50.7 per cent less than one year ago and that the China State Shipbuilding Corporation's profit shrank 63 per cent in the first half.
Mr Zhang said shipbuilding is a typical cyclic industry, and though dark times will persist for a period, it will emerge into profitability one day.
Overcapacity does exist, he said, but shipbuilding capacity changes with demand. Some small and medium shipbuilders have stopped taking new orders since 2009. A number of new yards did not even start production.
Mr Zhang estimated that China's actual shipbuilding capacity is at 70 million tonnes. Major shipbuilders are still holding orders exceeding 100 million tonnes. Shipbuilders are not going to lose their jobs this and next year, so there is no panic, he said.
Two positive factors should be noted, he said. One is that prices of new ships are already more than 50 per cent down from before downturn, which should prompt new orders. There is no more room for price reductions. The second one is that despite the gloomy situation in the shipping market, the ocean engineering market is thriving and shipbuilders can take the opportunity to adjust their product structure.
Mr Zhang also said, besides the effort of the shipyards themselves, support from outside the industry such as the financial sector is also crucial for their survival in the winter of the market.
CANSI is appealing to banks not treat every shipbuilder in the same way as some major enterprises, such as Dalian Shipbuilding Industry Corporation, Jiangnan Shipyard, Rongsheng Heavy Industry and Yangzijiang Shipbuilding, still have competitive advantages.

2012-09-17 09:33:59

Given the difficult world shipping market and weak growth in global demand, it is hardly surprising that Chinese shipyards find themselves at their lowest ebb since the last order boom of 2007.
According to industry analysts, a considerable number of the country's small shipyards are teetering on the verge of bankruptcy - in fact, many now believe that just the largest 300 out of the country's current total of more than 3,400 shipyards are likely to survive the current downturn, which could still last another three years.
The latest industry data illustrates just what a dilemma is being faced by many in the sector.
According to the China Association of the National Shipbuilding Industry, during the first seven months of this year, finished capacity at Chinese shipyards dropped by 7.7 percent from last year to 35.49 million deadweight tons.
Total new orders stood at 11.64 million deadweight tons, a dramatic 50.7 percent drop compared with the same period last year.
And the current order book amounted to 123.5 million deadweight tons, a 29.9 percent decline from last year, according to the association.
But this is not just a problem for China's shipbuilding industry. Clarksons Plc, the global shipping services provider, has estimated that by the end of August, the global shipbuilding order book had dropped to 96.36 million compensated gross tons, the lowest reading since May 2005.
It said that shipowners remain reluctant to place new orders, especially with South Korean shipyards - recognized around the world for their levels of advanced technology and sophisticated systems - declining to this year's lowest point in August.
"Last year there was still demand for more sophisticated vessels. This year, market demand is weak for all kinds of vessels," said Sun Bo, a senior executive with China Shipbuilding Industry Corp, one of the country's major shipbuilding conglomerates.
In the meantime, new building prices have also plummeted to the lowest level since March 2004, and are now a third of what they were at the peak reached in August 2008, according to Clarksons.
Pressured by the low prices, a growing number of Chinese shipbuilders are now refusing to take orders and have suspended production, while some smaller shipyards have gone bankrupt.
"The market will be even more difficult at the beginning of next year," added Sun. "A recovery is unlikely to happen within the next three years, and only big shipyards with strong order books are likely to survive."
The bigger players such as China Shipbuilding have been trying to manage the risk by tapping into the manufacturing of marine engineering equipment, and analysts suggest the boom in offshore drilling activities represents the most lucrative sector for the industry.
"To survive this difficult market, Chinese shipbuilders, faced with falling demand, should focus on adjusting their product structure," said Wang Jinlian, secretary-general of China Association of the National Shipbuilding Industry.
However, as the industry's woes deepen, shipyards are also facing the added pressure of tougher loan conditions being imposed on them by banks, with many finding it increasingly difficult to secure much-needed funding.
Zhang Guangqin, chairman of the association, has called on the banking sector to support the country's major shipbuilders, particularly with finance to secure orders from foreign ship operators and owners.
"The industry's overcapacity is not as serious as many in the market think," Zhang said.
"Although quite a number of our small shipyards have stopped taking orders since 2009, many of our big shipyards are very competitive, especially in the international market."

2012-09-13 09:17:40

According to CANSI, Chinese shipbuilders got new orders of 11.70m dwt from January to July, declining by 51% year on year. In July, new orders for domestic shipyards only totaled about 1.00m dwt.
Total order catalog of domestic shipyard stood at 123.5m dwt by the end of June, 29.9% down against the same period of last and 17.6% less than the volume at the end of 20111. Export ships still dominate newbuidling market by accounting for 80.8% of newbuilding out put, 72.6% of total new orders and 83.1% of orderbook.
CANSI also reveals that the total income for 2000 Chinese shipyards recorded $54.0bn in the first six months, increasing by 3.4% year on year. However, the profits declined by 23.9% to about $2.8bn in the same period.

2012-09-10 14:31:05

Chinese shipbuilding industries are standing on the edge of the precipice, suffering from plummeted new order and financial difficulties.
Chinese shipbuilders' overall new order contracted for the first six months of this year was cut by over a half and their orderbook, at present, declined by 35% year-on-year.
Local sources reported that the number of China's operating shipyards which reached around 3,400 in 2008 now fell to some 300.
Dongfang Shipbuilding, the first Chinese shipyard listed on London's AIM in August 2011, was delisted and banks are rushing to seize its assets.
China's largest private-owned shipyard Rongsheng Heavy Industries is also encountering financial difficulty.
China has seen many cases of curtailment of production, filing for insolvencies, etc., from shipbuilding-concentrated areas, such as Jiangsu, Zhejiang, Shandong, etc.

Bluesky Shipyard and Hengfu Shipyard went bankruptcies in October 2011, while Huigang Shipyard and Zhejiang Jingang Shipbuilding filed for insolvency in March and May 2012, respectively. In June, Dalian Oriental Precision & Engineering declared bankruptcy.
Shipbuilding official said, "Shipyards in Shanghai have already went through several restructuring, however, they are facing crisis of operation stop, insolvency, etc."
Sharp increase in labor costs, low management efficiency, etc., have considerably affected recent difficulties, not to mention European financial crisis, appreciation of Yuan, etc.
An official from CANSI pointed out, "The biggest problems are low order and financial difficulties. Also, structural problem of high proportion of small-and-medium shipyards, reaching 60% is problematic."

Page 7 of 11
Most Views
Home About Us Contact Us Help Center Advertising

Copyright © 2006-2017   Eshiptrading.com All Rights Reserved