Zhoushan Xinya Shipyard Co., Ltd.
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Current Status of the Shipbuilding Industry
Release time:
2009-03-07 08:34
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The shipbuilding industry is hailed as the “crown of comprehensive industries.” Among the 116 sectors of the national economy, the shipbuilding industry has direct ties with 97 of them, with an overall interconnection rate of 84%. Among these, the machinery, metallurgy, and electronics industries are particularly closely linked. Moreover, for every 10,000 deadweight tons of ships built, approximately 3,000 jobs can be created in the shipbuilding industry and its upstream sectors. China’s shipbuilding industry is also one of the most internationally competitive industries in the world.
Due to the impact of the financial crisis, the shipbuilding industry has been under “pressure” since September last year. Moreover, 2009 was widely regarded by many experts as a particularly challenging year for China’s shipbuilding sector. The main difficulties manifested themselves in three key areas: difficulties in delivering ships, difficulties in securing new orders, and difficulties in obtaining financing.
According to statistics, in 2008, China’s national shipbuilding completion volume reached 28.81 million deadweight tons, a year-on-year increase of 52.2%, up 21.8 percentage points from the same period last year; new ship orders totaled 58.18 million deadweight tons, down 40.9% year-on-year; and outstanding ship orders stood at 205 million deadweight tons, an increase of 28.7% year-on-year.
A research report by the China National Shipbuilding Industry Association indicates that China’s shipbuilding industry is set to experience a substantial downturn this year: In 2009, China’s completed shipbuilding volume is expected to exceed 40 million deadweight tons, while newly awarded shipbuilding orders may total only 20 to 30 million deadweight tons—down 65.6% to 48.4% year-on-year—and by the end of the year, outstanding shipbuilding orders will fall to around 160 million tons.
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