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Report of Chinese Shipbuilding Industry under the International Financial Crisis, 2009
Overview on the Adjustment and Revitalization Plans of Chinese Shipping Industry issued by Chinese government in February, 2009 to supporting Chinese shipping industry: Government encourages the financial organizations to increase credit funds for ship export buyers. The current financial support policies of deep sea ships for home market will be prolonged to 2010. The government should work on the policies of encouraging the update of old ships and replacing single-shell tankers. The present shipbuilding enterprises should suspend the extension projects of shipyards and shipways. The new added central investment should used to the industry revitalization and technical reform. The government should support the high tech ships, oceanographic engineering equipments and the research on key corollary equipments.
In 2008, Chinese accomplished shipbuilding output was 28.81 million deadweight tonnages, rising by 52.2% of last year.
The newly undertook ship orders were 58.18 million deadweight tonnages, a reduction of 40.9% of last year. Ship orders in hand were 204.6 million deadweight tonnages, increased by 28.7% compared with 2007. According to the global shipbuilding statistics of Clarksons Group, the market shares of Chinese accomplished shipbuilding output, newly undertook ship orders and ship orders in hand accounted for 29.5%, 3707% and 35.5% respectively in the world, in which Chinese accomplished shipbuilding output and ship orders in hand kept a fast growth for six consecutive years and led to the three indicators standing the second place in the world.
With the transfer of international financial crisis to the real economy, Chinese shipbuilding industry has felt the coming of strikes.
Because the strikes of international financial crisis on Chinese shipbuilding industry began to reflect in September of 2008, the whole performance of Chinese shipbuilding industry in 2008 was sound. In 2008, the newly undertook ship orders were 58.18 million deadweight tonnages and only 2.61 million deadweight tonnages in the fourth quarter, less than 5% of the whole year’s. Chinese accomplished shipbuilding output exceeded the new undertook orders from October of 2008, first consecutive reduction of monthly orders in hand over the past five years. it's predicted that Chinese accomplished shipbuilding output in 2009 will be over 40 million deadweight tonnages and 56 million deadweight tonnages of orders in hand of last year’s was scheduled to accomplish in 2009. The intervals are about 16 million deadweight tonnages. it's predicted that the newly undertook orders are only about 20 to 30 million deadweight tonnages, half or more reduction year on year. At present, Chinese ship orders in hand declined from 205 million to million deadweight tonnages in 2007 to 160 million deadweight tonnages.
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