Research Report on China’s Shipbuilding Industry, 2021-2025

admin — Sat, 16 Jan 2021 01:47:24 +0000

Shipbuilding Industry Overview

China’s shipbuilding industry has been developing rapidly with the government’s policy support and cost advantages since the beginning of the 21st century. Shipbuilding is a modern and comprehensive industry of strategic importance that provides technical equipment to industries such as water traffic, ocean development and national defense.

China-made mainstream ships including container ships, bulk carriers and oil tankers and high-end ships including liquefied gas carriers have certain competitive advantages on the international market. In the recent decade, the global shipbuilding industry presented a market structure of tripartite China-South Korea-Japan competition.

According to CRI, in 2020, affected by the COVID-19 epidemic, the global new shipbuilding market remains sluggish. In 2020, pessimistic expectations in the global newbuilding market will increase, new ship transactions will decrease significantly, and the number of new ship orders received by major shipbuilding countries will decline year-on-year.

From January to November 2020, China received orders for new ships of 22.52 million dwt, a year-on-year decrease of 8.7%. Among them, orders for export ships were 19.77 million dwt, a year-on-year decrease of 13.5%, and export orders accounted for 87.8%. In the same period, Japan’s orders for new ships dropped by 66.7% year-on-year, and South Korea’s orders for new ships dropped by 8.4% year-on-year. The global market share has increased.

From January to November, China’s shipbuilding completions, new orders, and hand-held orders accounted for 40.4%, 50.8% and 46.9% of the global market, respectively. The three major indicators are higher than in 2019. The completion of shipbuilding industry was better than expected.
The COVID-19 epidemic that broke out in early 2020 has had a major impact on China’s shipbuilding industry in the first quarter of 2020.

In the first quarter of 2020, China’s shipbuilding completion volume fell by 27.3% year-on-year. It will gradually recover from April 2020. From January to November 2020, China’s shipbuilding completed 33.24 million deadweight tons, down 2.6% year-on-year.

Among them, the completed export ship volume was 30.03 million deadweight tons, a year-on-year decrease of 5.8%, and the completed export ship volume accounted for 90.3%.

On November 15, 2020, the ten ASEAN countries, China, Japan, South Korea, Australia, and New Zealand formally signed the Regional Comprehensive Economic Partnership Agreement (RCEP). RCEP is currently the world’s largest free trade zone.

In 2019, the 15 member states of RCEP have a total population of 2.27 billion, GDP of 26 trillion U.S. dollars, and total exports of 5.2 trillion U.S. dollars, each accounting for about 30% of the global total. The establishment of the RCEP free trade zone means that about one-third of the world’s economy will form an integrated market.

After the agreement comes into effect, more than 90% of the goods trade in the region will eventually achieve zero tariffs, and the tax will be reduced to zero immediately and within 10 years, so that the RCEP free trade zone is expected to fulfill all the goods trade liberalization commitments in a relatively short time .

According to CRI analysis, After the RECP takes effect, it will greatly promote the import and export trade between the contracting states, thereby promoting the rapid development of intra-regional and external maritime trade. Shipping is still the most important mode of transportation in global trade.

The signing of the RCEP agreement may bring new growth momentum to the shipping industry, and the development and growth of the shipping industry will create new market space for the shipbuilding industry.

According to CRI’s forecast, if the COVID-19 epidemic can be alleviated in 2021, the global and Chinese shipbuilding industry is expected to recover. If the epidemic continues, the global shipbuilding industry will still be in a downturn in 2021 and may not gradually recover until 2022.

Topics Covered:
– The impact of COVID-19 on the global shipbuilding market
– Development environment of shipbuilding in China
-Sales volume and value of shipbuilding in China 2015-2025
-Sales volume and value of shipbuilding in China by section 2015-2025
– Major shipbuilding Manufacturers and their market share in China
– Export volumes and values of shipbuilding in China
– Major export destinations of China’s shipbuilding
– Prices of shipbuilding in China
– Prospects of Chinese shipbuilding Market 2021-2025

The post Research Report on China’s Shipbuilding Industry, 2021-2025 first appeared on CRI Report.

Research Report on China’s Shipbuilding Industry, 2018-2022

admin — Fri, 17 Aug 2018 09:07:25 +0000

Description
Shipbuilding is a modern and comprehensive industry of strategic importance that provides technical equipment to industries such as water traffic, ocean development and national defense. China’s shipbuilding industry has been developing rapidly with the government’s policy support and cost advantages since the beginning of the 21st century. China-made mainstream ships including container ships, bulk carriers and oil tankers and high-end ships including liquefied gas carriers have certain competitive advantages on the international market. In the recent decade, the global shipbuilding industry presented a market structure of tripartite China-South Korea-Japan competition.
According to CRI, the global market share of China’s shipbuilding industry rose significantly from 2007 to 2017. In 2017, the quantity of completed ships was 42.68 million DWT, increasing by 20.9% YOY; the quantity of new orders was 33.73 million DWT, increasing by 60.1% YOY. China’s shipbuilding industry captured the largest global market share in all the three major indicators with the quantities of completed ships, new orders and orders on hand accounting for 41.9%, 45.5% and 44.6% respectively of the global total. China has become one of the most important shipbuilding centers in the world.
According to CRI, as a typical cyclical industry, shipbuilding is closely related with global economic environment and shipping market. For example, the financial crisis in 2008 had a profound influence on shipbuilding, which urged the global shipbuilding industry to cut overcapacity and carry out transformation and upgrading. Since 2013, the quantity of new orders has been declining and the quantity of orders on hand has declined for four consecutive years, which reduced the capacity from 80 million DWT in 2012 to 65 million DWT at the end of 2015. At the end of 2017, the quantity of orders on hand was 87.23 million DWT, falling by 12.4% YOY. As the quantity of orders on hand has declined for four consecutive years, most shipbuilders can only maintain a workload of about one year. In 2017, new orders tended to concentrate in dominant enterprises. The top 10 shipbuilders accounted for 73.4% of the total quantity of new orders and 58.3% of the total quantity of completed ships. Four Chinese shipbuilders ranked among the global top 10 by the quantity of new orders, and five Chinese shipbuilders ranked among the global top 10 by the quantity of completed ships. In 2017, the prices of upstream raw materials, human cost and financing cost kept rising while the increase in ship prices was little. Therefore, the profitability of Chinese shipbuilders was still low.
From 2018 to 2022, the global economy and the global shipping market are expected to grow, which will lead to a rising demand for new ships. Meanwhile, the increasing global investment in oil and gas development will require more offshore oil and gas platforms and promote the development of offshore wind farm equipment and LNG related equipment. It is expected that the export volume of China-made ships will continue to grow from 2018 to 2022 because China’s shipping industry has certain cost advantage on the international market.

Topics Covered:
– Development environment of global and domestic shipbuilding industry
– Analysis on shipbuilding supply and demand in China
– Exports of ships from China
– Analysis on competition in China’s shipbuilding industry
– Major shipbuilders in China
– Analysis on shipbuilding costs and prices of new ships
– Factors influencing the development of China’s shipbuilding industry
– Prospect of China’s shipbuilding industry, 2018-2022

Related Report:

https://www.cri-report.com/product/research-report-on-chinas-shipbuilding-industry-2021-2025/

https://www.cri-report.com/product/global-commercial-shipbuilding-comprehensive-market-outlook-2030-industry-insights-opportunity-evaluation-2019-2030/

The post Research Report on China’s Shipbuilding Industry, 2018-2022 first appeared on CRI Report.

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Research Report on China’s Shipbuilding Industry, 2018-2022