China vessel orders surge to US$1.5b
CHINESE shipbuilders received orders for vessels totalling 2.4 million deadweight tonnes (dwt), worth US$1.5 billion during the first 11 months of the year, according to the China Daily.
The volume was up from 1.65 million dwt for the whole of last year and equal to the orders received between 1986 and 1990.
Of the 11-month total, 99 per cent of the orders came from foreign shipowners, mainly from Hong Kong, Norway, Germany and Greece.
The major yards of China State Shipbuilding Corp (CSSC) are located in Shanghai, Dalian, Tianjin and Guangzhou.
CSSC now has orders for more than four million dwt of vessels in hand, which will keep its major yards busy for the next two years.
Of the orders received this year, large vessels and those for carrying liquefied oil, gas and chemicals constitute a much higher proportion of the total than before.
Most of the 10 million dwt of vessels CSSC has built for Chinese and overseas customers over the past decade were designed by domestic yards and institutes and equipped with domestic engines, the newspaper said.
CSSC began targeting the overseas market in the 1970s, earlier than other industries did.
Earlier this month, the Tianjin Shipbuilding Corp, a subsidiary of CSSC, delivered two 10,000-dwt bulk carriers to a Japanese owner, heralding the start of exports to Japan, the world's top shipbuilding nation.
By the end of the Eighth Five-Year Plan period (1991-95), CSSC is scheduled to complete three million dwt of vessels for overseas clients, earning $2.7 billion.
CSSC executives said ship exports had also helped sales of machinery and electronics abroad as well as increasing economic and technical co-operation with foreign countries.
Now, CSSC enterprises export 200 products to 80 countries.
CSSC yards will build vessels totalling 1.75 million dwt this year, making China the world's fourth largest shipbuilder, behind Japan, South Korea and Germany. Five years ago, China ranked 16th in the world.
Last year, CSSC built 1.64 million dwt. Between 1991 and this year, CSSC will have built 6.67 million dwt of vessels, representing an average growth of 22 per cent.
In the 1986-90 period, only half that amount was completed.
Of the vessels built in the past five five years, 88 per cent were of more than 10,000 dwt, 22 per cent higher than those built in the 1986-90 period.
By introducing advanced technology and corporate management expertise, CSSC's shipyards have improved efficiency.
The average time taken to build a vessel above 35,000 dwt has been shortened to 90 days from 120 days five years ago.
CSSC yards have the capacity to build 2.5 million dwt of vessels annually.