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BizVerify |
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| Shanghai Donghuang Forging Co., Ltd. |
| Verified By : Huaxia D&B |
| Verified Date : 2011-11-22 |
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| Slowdown signs - Shandong shipbuilding industry suffering |
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It is reported that the hurt by financial crisis to shipbuilding industry comes out more and more clearly in the world as the ship orders appear rarely and finished ships are suspended in delivery or abandoned by ship owners.
The same situation happens in Shandong Province too, the difficulties in ship delivery, new ship orders and financing brought increasing suffers to the provincial shipbuilders who should bear the losses during the long suspension period of delivery.
International shipping capacity has been extremely superfluous and shipping freight continues to go down, squeezing out profits in shipping market. Baltic Dry Index once touched 11793 points last May, but plunged to some 2000 points in the H1 of last year. Under the situation, ship owners required builders to cut ship price or chance ship type or put off the delivery or cancel orders or abandon ships.
In the Q1, Shandong mainly experienced order cancellation, ship abandonment and delivery postponing and had 6 ships left without owner, 3 ship orders written off and 8 ships put off for over three months in delivery. In the Q2 the contact of delivery postponing, price cut, payment postponing and style alteration were increasing. The province had 1 ship put off for three months in delivery, 6 ship orders changed in start and delivery date and 4 ship orders altered in style.
According to experts calculation, a 30,000m DWT bulk carrier might cost the builder about CNY 8000 per day if the ship is postponed in delivery. Besides, new ship orders became drying up since ship owners generally hold wait and see or pessimistic altitude on the future shipping market. After five year fast growth, the ship industry existing orders has overrun 600m DWT occupying over 50% of the present shipping capacity.
The latest experts’ expectation shows that global new ship orders won’t exceed 5 million DWT and the yearly turnover will be less than 15 million DWT equal to 10% of 2008 or 5.56% of 2007
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