China: New shipbuilding orders fall over 40% y-o-y in Jan-Aug’22

According to China Shipbuilding Industry Association data, 23.94 million deadweight tonnes (DWT) of shipbuilding was completed in Jan-Aug’22, down 8.9% y-o-y and orders for new ships declined by nearly 43%. Ship orders in hand were 102.03 million DWT, up 11.5% on the year. In Jan-Aug, China’s shipbuilding completions, new orders and hand-held orders accounted for 45.4%, 50.6% and 47.7%, respectively, of the world market share.