World shipbuilding falls into crisis

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8 years ago
World shipbuilding falls into crisis

World shipbuilding continues to enter the crisis, with a sharp decline in the number of new ships to surrender in the period from 2014 to 2015. In 2011, the fourth largest company in the world in terms of tonnage delivered to customers was the Chinese company Dalian Shipbuilding (Korean Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding), however, by 2015, Dalian Shipbuilding does not have a single vessel project for delivery.

It is especially difficult for China. Of the 197 Chinese shipyards in 2012, only 23 have received orders so far. 28 percent of Chinese shipyards have not received new orders since 2009. Between January and April, 277 new vessels were ordered at Chinese shipyards, and last year 622 vessels were ordered in the same period.

A growing list of Chinese shipyards becoming shipowners — that is, completing the construction of ordered ships at their own expense. The state corporation Huanghai Shipbuilding of Shandong registered a shipping company in Hong Kong for the management of a multi-purpose dry cargo ship with a deadweight of 30,000 register tons. The companies Yangzhou Guoyu Shipbuilding, SinoPacific Shipbuilding Group, and Sainty Marine Corp. of Nanjing are also preparing to become operators of seven Kamsarmax-sized ships (displacement up to 90,000 tons), whose construction they will complete this year.

The Export Import Bank of China (CEXIM) holds more than $ 6 billion, ready to provide financial support to foreign companies that decided to order ships at Chinese shipyards.

The case of the Singapore shipyard Dongfang Shipbuilding, which does not fulfill its obligations under the taken loans, is getting worse. As a result, banks are forced to arrest the vessels of this company, so four of the seven chemical tankers with a deadweight of 9,000 tons.

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