Issuing agency: China Association of the National Shipbuilding Industry
Column: Capacity Utilization Monitoring Index
source: https://www.cansi.org.cn/cms/document/17272.html
The 2021 China Shipbuilding Capacity Utilization Monitoring Index (CCI) is 742 points, an increase of 64 points compared with 2020, a year-on-year increase of 9.4%, and has risen above the normal level for the first time since 2012.
In the first quarter, global container ship freight rates rose sharply, and orders for new container ships grew explosively. Affected by the rapid rise in raw material prices, key monitoring indicators such as main business income and profit margins of shipbuilding companies fell sharply from the previous quarter. At the end of the quarter, the CCI dropped slightly to 652 points, 26 points lower than the fourth quarter of 2020.
In the second quarter, the international shipping market continued to recover, the global new shipbuilding market continued to be active, new ship prices rose steadily, and ship orders held by key monitoring shipbuilding companies rebounded for six consecutive months. At the end of the quarter, the CCI gradually rebounded to 706 points, rising above the normal level for the first time since 2012.
In the third quarter, the international shipping comprehensive freight index increased by 40.6% month-on-month. Container ship and bulk carrier freight rates continued to rise. Ship orders held by key monitoring shipbuilding companies rebounded to more than 90 million deadweight tons. At the end of the quarter, the CCI rose rapidly to 752 points, the highest point in the past nine years.
In the fourth quarter, the international shipping market fluctuated from highs and fell back, and the new ship price index rose inertly. Shipbuilding companies were monitored as having sufficient orders and full production tasks, but corporate profits declined year-on-year. At the end of the year, the CCI fell back to 742 points, down 10 points from the previous quarter, and remained within the normal range.
Looking forward to 2022, uncertainty about the impact of the COVID-19 epidemic on the world economy still exists, and the external environment has become more complex and severe. However, the confidence of the shipping and shipbuilding industries has been significantly boosted. Coupled with the upcoming entry into force of new international maritime environmental protection regulations and the market opportunities brought by decarbonization needs, global new ship ordering demand will not shrink significantly and will still maintain a certain scale. Comprehensive analysis shows that the 2022 CCI will continue to fluctuate within the normal range.
Figure China Shipbuilding Capacity Utilization Monitoring Index (Annual)
Figure China Shipbuilding Capacity Utilization Monitoring Index (Quarterly)