Issuing agency: China Association of the National Shipbuilding Industry
Column: Capacity Utilization Monitoring Index
source: https://www.cansi.org.cn/cms/document/18234.html
The China Shipbuilding Capacity Utilization Monitoring Index (CCI) in the third quarter of 2022 was 717 points, which was within the normal range. Compared with 752 points in the same period last year, it dropped 35 points, a year-on-year decrease of 4.7%; compared with 700 points in the second quarter, it rose by 17 points, a month-on-month increase of 2.4%.
Specifically, there was a correction in the international shipping market in the third quarter, with the Clarkson Comprehensive Freight Index falling 15.5% compared to the second quarter, and the new ship price index remaining at 162 points, driving the decline in leading indicators. In the third quarter, the price of marine steel fell, the RMB exchange rate fell against the US dollar, and the profitability of shipbuilding companies improved. As domestic production and logistics breakpoints were cleared in the third quarter, the production of shipbuilding companies improved significantly, driving the rise in concurrent indicators. Overall, In the third quarter, the rise in the synchronized indicator of the shipbuilding capacity utilization index offset the decline in the leading indicator, and the CCI index rebounded.
It is expected that in the fourth quarter of 2022, the international shipping market is expected to stop falling and rebound, the new ship market will continue to remain active, the capacity utilization of shipbuilding companies will increase slightly, and CCI will maintain a rebound trend.
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 utilization rate; lagging indicators: growth rate of global fleet ownership.
Figure China Shipbuilding Capacity Utilization Monitoring Index (Quarterly)