The China Association of the National Shipbuilding Industry (CANSI) has released its 2012 annual report of mostly gloomy predictions in the nation's shipbuilding industry, with the exception of the offshore market.
The report states that China completed a shipbuilding volume of 60.2 million DWT, reports Sinoship News, a drop of 21.4% year-on-year. Meanwhile, a volume of 20.4 million DWT was received in new orders, a 43.6% decrease year-on-year.
In 2012, the offshore equipment market gained steady growth and made several breakthroughs in research and development, design, and construction.
According to Sinoship, China's offshore products increased in international market share, from less than 10 per cent in 2011 to more than 15 per cent in 2012.
Based on the report, CANSI predicts that the international shipping market will improve slightly in 2013 and China's national shipbuilding industry will "remain in the doldrums".
The offshore market, however, will "remain active, especially the floating offshore equipment market," and the CANSI report also suggests potential actions for shipyards to enact, such as increasing the rate of diversification and market transformation, managing risks, and forming international co-operations.
Source: Sinoship News