Chinese shipyards clinches 1.68 million CGTs in new orders, or 82 percent of the global total in August

[beijingwalker]

Chinese shipyards clinches 1.68 million CGTs in new orders, or 82 percent of the global total in August

S. Korean Shipyards Rank 2nd in New Global Orders in Aug.​

Posted on September 6, 2023 by Korea Bizwire in Business, Industries, Shipbuilding & Marine

SEOUL, Sept. 6 (Korea Bizwire) — South Korean shipbuilders lagged far behind their Chinese rivals in new global orders to place second worldwide in August amid sinking demand, industry data showed Wednesday.

Local shipyards won a combined 270,000 compensated gross tons (CGTs) in new orders last month, accounting for 13 percent of the global total at 2.05 million CGTs, according to the data from global market researcher Clarkson Research Service.

The global total, or 71 vessels, was 30 percent lower than that from a year earlier.

Chinese shipyards far surpassed South Korean players, clinching 1.68 million CGTs in new orders, or 82 percent of the total.

Last month, South Korean shipbuilders clinched orders to construct six vessels, compared with Chinese rivals’ 60 ships.

In the first eight months of the year, global orders totaled 26.81 million CGTs, or 1,038 vessels, down 22 percent from a year earlier.

South Korean shipyards clinched 7.25 million CGTs, or 27 percent of the total, with Chinese rivals winning 15.65 million CGTs, or 58 percent.

The data also showed the global order backlog reaching 121.3 million CGTs at the end of August, up 900,000 CGTs from a month earlier.

South Korea’s order backlog came to 39.86 million CGTs, or 33 percent of the total, with China’s reaching 57.02 million CGTs with 47 percent.

Clarkson’s Newbuilding Price Index, a barometer of price changes in newly built ships, stood at 173.56 points in August, up 11.44 points from a year earlier.

S. Korean Shipyards Rank 2nd in New Global Orders in Aug. - Be Korea-savvy

SEOUL, Sept. 6 (Korea Bizwire) — South Korean shipbuilders lagged far behind their Chinese rivals in new global orders to place …

koreabizwire.com

 

[beijingwalker]

S. Korean shipyards rank 2nd in new global orders in Aug.​

All News 10:31 September 06, 2023


SEOUL, Sept. 6 (Yonhap) -- South Korean shipbuilders lagged far behind their Chinese rivals in new global orders to place second worldwide in August amid sinking demand, industry data showed Wednesday.

Local shipyards won a combined 270,000 compensated gross tons (CGTs) in new orders last month, accounting for 13 percent of the global total at 2.05 million CGTs, according to the data from global market researcher Clarkson Research Service.

The global total, or 71 vessels, was 30 percent lower than that from a year earlier.

Chinese shipyards far surpassed South Korean players, clinching 1.68 million CGTs in new orders, or 82 percent of the total.

Last month, South Korean shipbuilders clinched orders to construct six vessels, compared with Chinese rivals' 60 ships.

In the first eight months of the year, global orders totaled 26.81 million CGTs, or 1,038 vessels, down 22 percent from a year earlier. South Korean shipyards clinched 7.25 million CGTs, or 27 percent of the total, with Chinese rivals winning 15.65 million CGTs, or 58 percent.

The data also showed the global order backlog reaching 121.3 million CGTs at the end of August, up 900,000 CGTs from a month earlier.

South Korea's order backlog came to 39.86 million CGTs, or 33 percent of the total, with China's reaching 57.02 million CGTs with 47 percent.

Clarkson's Newbuilding Price Index, a barometer of price changes in newly built ships, stood at 173.56 points in August, up 11.44 points from a year earlier.

https://en.yna.co.kr/view/AEN20230906002000320

 

[beijingwalker]

82% of the global total, this is a crazy dominance, maybe soon China will be the only country building ships for the world.
China will definitely turn this shipbuilding juggernaut into a powerful navy.

 

[beijingwalker]

China's shipbuilding capacity is at least 232 times greater than that of the United States.

Surprisingly, China Defeats the US in the Competition to Build Warships​

by Ruetir
July 13, 2023

An assessment by the US Naval Intelligence Office shows China has beaten the US in the battleship building competition. Photo/US Navy

WASHINGTON – China surprisingly has beaten United States of America (US) in competition and buildability warship. This is the latest assessment from the US Office of Naval Intelligence (ONI).

According to the assessment, the communist superpower has a warship building capacity 230 times greater than the total available space in American construction yards.

The ONI assessment slides have been published on The War Zone, a defense website, and confirmed authentic by the Pentagon.

According to the slides, China has enough capacity to build 23.25 million tonnes of ships compared to less than 100,000 tonnes in the US.

Fifty dry docks in China can accommodate aircraft carriers and 20 shipyards can support the Navy’s building program.

US-based shipbuilding capacity declined even before the end of the Cold War, but continued to shrink even more after that. It’s at a very low point, overall, right now.

The slide also includes notes on the percentage of Navy ship production for each country, and this is estimated at over 70 percent in China.

As of 2020, China’s People’s Liberation Army Navy (PLAN) has 355 warships and the US Navy has 296 units.

By 2035, their gap is expected to widen substantially, with the number of Chinese warships expected to reach 475 units, while the number of US warships is between 305 and 317 units.

Surprisingly, China Defeats the US in the Competition to Build Warships

loading… An assessment by the US Naval Intelligence Office shows China has beaten the US in the battleship building competition. Photo/US Navy WASHINGTON – China surprisingly has beaten United States of America (US) in competition and buildability warship. This is the latest assessment from the...

www.ruetir.com

 

[beijingwalker]

 

[beijingwalker]

How many people are building ships in China? Workers get off work in a privately owned shipyard, check out the swarms of welders

 

[kingQamaR]

The Chinese navy doesn't have to be as large as the US navy, because it is being used to defend the coastline of China. On the other hand, the US navy is used for force projection around the world. The Chinese military can use land based aircraft, drones, and land based missiles to supplement the Chinese navy to defend China.

China needs to invest more research and development on anti-submarine warfare, like building underwater drones, sensors under the water, and different kind of sensors that can hunt submarines. The biggest threat China faces are nuclear submarines.