China Jan-July new vessel orders down 4.8% on year

China's shipbuilders received new vessel orders equivalent to nearly 14 million dead weight tons (dwt) over January-July, lower by 4.8% on year, according to the latest data released by China Association of the National Shipbuilding Industry (CANSI) on August 21. This was in contrast to the 3.4% on-year rise seen in new orders over H1, Mysteel Global notes.

 

Among the total of new orders the domestic builders received, some 12.6 million dwt or 90.2% were for export, down 7.7% on year. Significantly too, last month South Korea superseded China in the volume of new orders secured, Mysteel Global noted.

 

Source:My Steel

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