Issuing agency: China Association of the National Shipbuilding Industry
Column: Capacity Utilization Monitoring Index
source: https://www.cansi.org.cn/cms/document/16971.html
The China Shipbuilding Capacity Utilization Monitoring Index (CCI) in the third quarter of 2021 was 752 points, an increase of 136 points from the third quarter of 2020, a year-on-year increase of 22.1%; an increase of 46 points from the second quarter of 2021, a month-on-month increase of 6.5%.
Specifically, since the third quarter, the international shipping market as a whole has been in a situation of oversupply, and the freight prices of bulk carriers and container ships have continued to rise. The Clarkson Comprehensive Freight Index has increased by 40.6% month-on-month in the third quarter. The price of new ships has continued to rise. Shipbuilding companies have been monitoring the number of ship orders that have rebounded to more than 90 million deadweight tons, promoting the rapid growth of leading indicators. The main business income of shipbuilding companies has continued to grow, and some companies have already scheduled production tasks to 2024. Capacity utilization is generally at a normal level, but due to the impact of the COVID-19 epidemic's production restrictions and the rapid rise in raw material prices, the year-on-year decline in the efficiency of shipbuilding enterprises has dragged down the synchronization indicators to decline slightly.
It is expected that in the fourth quarter, the international shipping market will remain active, but the demand for new ships will fall back compared to the third quarter. The key to monitoring the production capacity utilization of shipbuilding enterprises will be at normal levels, and the CCI will fluctuate within the normal range.
Figure China Shipbuilding Capacity Utilization Monitoring Index (Quarterly)