Chinese shipyards suffer decline in new orders

BY    2012-11-18 11:10:21

  Chinese shipyards suffered a month-on-month drop in new orders in October as production tumbled in yards across the globe.

  But the nation’s yards remain the world leader in landing new orders, figures show.

  In October, new orders for the world shipbuilding industry fell by 32 percent from September to 1.4 million compensated gross tons (CGT), largely because of a sharp drop in new orders for Chinese and South Korean yards.

  Compensated gross tonnage is an indicator of the amount of work necessary to build a given ship and is calculated by multiplying the tonnage of a ship by a coefficient, determined according to type and size of a particular vessel.

  Statistics from Clarksons Plc, the world’s leading provider of shipping services, show total volume of new orders at South Korean yards fell by 70 percent from a month earlier to 180,000 CGT, while Chinese yards also suffered a fall, with their new orders standing at 540,000 CGT. No figure was available for this percentage decline.

  European yards, in contrast, saw a strong surge in new orders, rising to 460,000 CGT in October from 170,000 CGT in September, according to Clarksons.

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