The rise and fall of the shipbuilding industry has always been regarded as a barometer of the economy. This year, as a result of the COVID-19 outbreak, the volume of new ships has shrunk by 51% year-on-year.

But according to data released by the world's leading shipping and shipbuilding institutions, China's shipbuilding industry has maintained its lead in new orders, accounting for 58.3% of the world market from January to September this year and the orders in shipyards also accounted for 48.3% of the global market share.

Since the beginning of this year, due to the dual impact of market uncertainty and the epidemic, the global shipbuilding industry has been in a downturn. The latest report issued by the Danish Shipowners Association shows that the global new ship orders have dropped to the lowest level in the past 30 years. Although there are differences among different ship types, the three main ship types of oil tanker, container ship and bulk carrier to the existing fleet are at their lowest levels in decades.

Source:Sarah Yu, XINDE MARINE NEWS

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