| Chinese shipyards’ new orders slumped 78.9% year on year (y/y) to 3.8 million dwt in the first two months of 2015, the China National Association of Shipbuilding Industry (CANSI) said on 18 March. The orderbook of the Chinese shipbuilders grew 1.8% y/y to 147.6 million dwt at the end of February, but 1.2% down from 31 December 2014. Between January and February, the completed tonnage at the Chinese yards grew 34.1% y/y to 5.6 million dwt. For exports, the new orders fell 78.1% y/y to 3.5 million dwt, accounting for 90% of overall new orders placed at Chinese shipyards. A total of 88 companies in the Chinese shipbuilding and relevant industries surveyed by CANSI posted y/y rise in operating revenues of 25.7% to CNY34.2 billion (USD5.5 billion) in the first two months of 2015, with gross profits down 4.8% to CNY330 million. Meanwhile, the industrial output values of these companies increased 6.9% y/y to CNY53.5 billion, with those for shipbuilders, marine equipment makers, and ship repairers up 10.4%, 13.2% and 2.4% y/y to respectively. |