40 Million DWT Ship To Be Built In China This Year

A Million DWT Ship To Be Built In China This Year
40 Million DWT Ship To Be Built In China This Year

According to the data released by the China National Shipbuilding Industry Association (CANSI), a total of 2 million 570 thousand DWT shipbuilding was completed in China in May, an increase of 22,4 percent compared to April.

The shipbuilding industry, which was affected by the last wave of the Kovid-19 epidemic, quickly recovered in May. According to estimates released by CANSI, 40 million DWT shipbuilding is expected to be completed in China this year.

According to CANSI's data, in the January-May period, ship capacity in China decreased by 15,3 percent and new ship orders decreased by 46 percent compared to the same period last year. CANSI Secretary General Li Yanqing pointed out that the shrinkage in the shipbuilding industry in China is related to the decline in global markets. Li said that with the resumption of businesses in Shanghai and Jiangsu province in May, 2 million DWT ships were delivered, an increase of more than 20 percent compared to April. Li said they expect the positive trend to be maintained.

Two-thirds of China's shipbuilding capacity is located in the Yangtze River Delta region, which also includes the city of Shanghai. In the second quarter of the year, the new wave that emerged in the epidemic brought serious threats to the country's shipbuilding industry. In May, with the resumption of the relevant businesses, rapid progress was made in shipbuilding, while deliveries accelerated, especially at the end of the month.

The data released by CANSI showed that the shipbuilding completed in the country in May reached 22,4 million 2 thousand DWT, an increase of 570 percent compared to April. In addition, ship exports increased by 23 percent compared to April and reached 1 billion 500 million dollars.

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