Issuing agency: China Association of the National Shipbuilding Industry
Column: Capacity Utilization Monitoring Index
source: https://www.cansi.org.cn/cms/document/11519.html
The China Shipbuilding Capacity Utilization Monitoring Index (CCI) in 2018 was 607 points, still in the cold range.
China's shipbuilding capacity utilization monitoring index dropped by 71 points compared with 678 points in the same period in 2017, a year-on-year decrease of 10.5%. Specifically, due to the impact of fewer new ship orders in 2015 and 2016, the number of completed and delivered ships in 2018 dropped significantly from the previous year; the international shipping market rebounded slightly, the Clarkson Comprehensive Freight Index and the new ship price index increased, and the number of new ship orders increased year-on-year. At the end of the year, ship orders on hand stabilized and rebounded year-on-year.
In the fourth quarter of 2018, China's shipbuilding capacity utilization monitoring index was 607 points, an increase of 6 points from the previous quarter compared with 601 points in the third quarter. Specifically, in the fourth quarter, new ship orders received by my country's key enterprises increased slightly, which led to a quarter-on-quarter rebound in hand-held ship orders. At the same time, indicators such as corporate operating income and operating profit margins also showed quarter-on-quarter growth, and the monitoring index began to show signs of stopping its decline and stabilizing.
Looking forward to 2019, on the one hand, the environment faced by the global new shipbuilding market is still complicated. The slow recovery of the shipping market and the scrapping of old ships have created conditions for new ship orders to come out of the trough, which is conducive to the improvement of shipbuilding capacity utilization. On the other hand, the uncertainty of trade protectionism has made shipowners have a strong wait-and-see mood, and the high fluctuations in comprehensive costs have put continuous pressure on the profitability of shipbuilding companies. Taken together, the China Shipbuilding Capacity Utilization Monitoring Index will maintain a stable trend in 2019. It is expected to continue to rise.
Figure 1 China Shipbuilding Capacity Utilization Monitoring Index (Annual)
Figure 2 China Shipbuilding Capacity Utilization Monitoring Index (Quarterly)
1. China Shipbuilding Industry Economics and Market Research Center provides partial technical support;
2. The China Shipbuilding Capacity Utilization Monitoring Index (Annual) chart will display continuous data;
3. The China Shipbuilding Capacity Utilization Monitoring Index (quarterly) chart will display data from the past 4 years.