China's new ship orders up 97.2% YoY in H1

SHANGHAI, Jul 26 (SMM) – China received new ship orders of 22.7 million dead weight tonne (dwt) from January to June this year, up 97.2% from the same period last year, showed data from the Ministry of Industry and Information Technology (MIIT).  

The country built 18.86 million dwt of ships for the first half of this year, down 28.9% from a year ago. 

At the end of June, on-hand orders across Chinese shipbuilders stood at 91.07 million dwt, up 9.9% year on year. Export orders accounted for 89.2%.

Shipbuilding volume in China for the first half of this year accounted for 41.7% globally, down 2.3 percentage points from last year. China's new orders received and on-hand orders, as part of the worldwide proportion, rose 9.5 and 2.4 percentage points respectively, to stand at 51.9% and 45.4%.