All the major indicators of Chinas shipbuilding industry showed competitiveness in key areas continued to increase in 2018. Excess capacity was effectively reduced, the ship repairing industry flourished and R&D continued to make new breakthroughs.All good, then. However, weakening momentum in the recovery of the world economy and the ongoing readjustment of the newbuildings market mean that deep-seated problems such as difficulty in securing financing and orders remain, and the situation facing the shipbuilding industry is still grim.By the end of December, Chinese shipbuilders had completed 34.58 million dwt, down 14% year-on-year. New orders totalled 36.67 million dwt, a 8.7% increase. Overall, outstanding orders stands at 89.31 million deadweight tons, an increase of 2.4%.Completed exported ships reached 31.64 million dwt (down 13.6%). New export ship orders reached 32.05 million dwt (up 13.9%), while the overall export orderbook was 78.68 million dwt (down 14.7%). Exported vessels accounted for 91.5%, 87.4% and 89.1% of the completed tonnage, new orders received, and outstanding orders, respectively.
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