China’s Jan-Sept new vessel orders down 27% on year
Oct 17, 2019 17:45
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Chinese shipbuilders received 19.5 million dead weight tonnes (dwt) of new vessel orders during this year’s January-September period, down 27.4% on year, according to the latest statistics from China Association of the National Shipbuilding Industry (CANSI) published on October 16. However, the margin of decline was much smaller than the on-year decrease seen over the first eight months of nearly 38%, Mysteel Global noted.
Among the total of new orders, those for export amounted to 14.8 million dwt, down by a large 22.3% on year. Exports accounted for all but about 5% of the total orders.
As the new rules on sulfur emissions from marine engines will come into effect soon starting next January, recently