Issuing agency: China Association of the National Shipbuilding Industry
Column: Capacity Utilization Monitoring Index
source: https://www.cansi.org.cn/cms/document/19042.html
The China Shipbuilding Capacity Utilization Monitoring Index (CCI) in the third quarter of 2023 was 878 points, a new high in recent years. Compared with 717 points in the same period last year, it increased by 161 points, a year-on-year increase of 22.5%; compared with 798 points in the second quarter, it increased by 80 points, a month-on-month increase of 10%.
Specifically, in the third quarter, the number of new ship orders in my country continued to remain at a high level, a year-on-year increase of 96.9%, driving the number of orders on hand to increase by 8.2% month-on-month. The Clarkson new ship price index continued to rise by 4 points compared with the second quarter, the comprehensive freight index increased by 3.6% compared with the second quarter, and leading indicators continued to grow. Focus on monitoring that shipbuilding companies have sufficient orders on hand, full production tasks, and capacity utilization to maintain a high level. In the third quarter, raw material prices and the RMB exchange rate continued to fluctuate at low levels, and corporate efficiency continued to improve. Main business income increased by 29.1% year-on-year, and operating profit margin increased by 0.3 percentage points from the second quarter, driving a substantial increase in concurrent indicators. The growth rate of the global fleet remained stable. The increase in leading indicators and concurrent indicators promoted the continued growth of CCI in the third quarter.
It is expected that in the fourth quarter of 2023, key monitored shipbuilding companies will continue to maintain full production capacity, fully utilize production capacity, and CCI will remain at a high level.
Leading indicators: focus on monitoring the number of ship orders held by shipbuilding companies, new ship price index and comprehensive freight index; concurrent indicators: focus on monitoring shipbuilding companies' capacity utilization, main business income and operating profit margin; lagging indicators: growth rate of global fleet ownership.
Figure China Shipbuilding Capacity Utilization Monitoring Index (Quarterly)