Issuing agency: China Association of the National Shipbuilding Industry
Column: Capacity Utilization Monitoring Index
source: https://www.cansi.org.cn/cms/document/18764.html
The China Shipbuilding Capacity Utilization Monitoring Index (CCI) in the first quarter of 2023 was 772 points, an increase of 65 points and 9.2% compared with 707 points in the same period last year; compared with 764 points in the fourth quarter of last year, an increase of 8 points and a month-on-month increase of 1%.
Specifically, in the first quarter, my country's new ship orders increased by 53.0% year-on-year, and the number of orders on hand increased by 15.6% year-on-year. The Clarkson new ship price index rose by 9 points year-on-year. However, the comprehensive freight index fell by 30.8% year-on-year due to the correction of the international container ship market, dragging down the leading indicators to decline slightly. It is focused on monitoring that shipbuilding companies have sufficient orders on hand, full production tasks, and capacity utilization to maintain a good level. Raw material prices and the RMB exchange rate remain relatively stable. Corporate efficiency gradually improved, with main business income increasing by 19.2% year-on-year, and operating profit margin increasing by 4.6 percentage points year-on-year, driving a substantial increase in concurrent indicators. The growth rate of global fleet ownership remained stable, with a year-on-year increase of 0.5 percentage points. The growth of concurrent indicators covered the decline in leading indicators, and the CCI continued to grow in the first quarter.
It is expected that in the second quarter of 2023, the international new shipbuilding market will continue to remain active, the capacity utilization of shipbuilding companies will maintain a good level, and CCI will continue to grow.
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)