China New Ship Orders Soared In the First Quarter

In the first quarter, China received 15.18 million deadweight mt of new ship orders, a year-on-year increase of 53%.

The orders received in March were 5.93 million deadweight mt, a month-on-month increase of 28.1%. The ship type structure of newly received ship orders is balanced, the proportion of bulk carriers and container ships has shrunk, and the proportion of oil tankers has increased significantly.

Compared with the same period last year, the four major ship types all achieved year-on-year growth, of which oil tankers increased by 381.3% year-on-year. The rapid rise in oil tanker freight boosted orders.