Ship Building in China - Industry Report.pdf
《Ship Building in China - Industry Report.pdf》由会员分享,可在线阅读,更多相关《Ship Building in China - Industry Report.pdf(44页珍藏版)》请在三一文库上搜索。
1、CONTENTS Error! No text of specified style in document. December 2011 | 1-800-330-3772 | IBISWorld Industry Report 3751 Ship Building in China December 2011 About This Industry . 2 Industry Definition 2 Main Activities . 2 Similar Industries . 2 Additional Resources . 3 Industry Performance 4 Exec
2、utive Summary . 4 Key External Drivers 4 Current Performance . 4 Industry Outlook 9 Industry Life Cycle . 11 Products industry revenue increased by 17.2%. During April and September, the volume of monthly new orders exceeded output volumes of new ships, which resulted in slight increases of handling
3、 orders. WWW.IBISWORLD.COM.CN Ship Building in China December 2011 6 However, there are still several major problems in this industry, such as excess production capacity, ship delivery delays, rising labor costs, higher raw material costs, and high requirements for new international standards. Also,
4、 weaker new orders in 2009 will gradually have a negative effect in the next few years. 2009 In the first quarter of 2009, Chinas GDP growth slowed to just 6.1% (the lowest growth rate since 1990), before recovering with the implementation of the governments large-scale economic stimulus plan. Quart
5、erly GDP growth in the second and third quarters rose to 7.1% and 7.7%, respectively, with GDP growth for the whole year reaching 9.1%. Mainly promoted by stable growth in emerging economies and increased liquidity, the world economy is estimated to have declined by just 1.0% in 2009, with growth of
6、 3.4% in 2010. Chinas Ship Building industry has been largely affected by shrinking international trade activities and a slump in international shipping industries. Globally, in early 2009, the volume of new orders for ships declined by over 90% and recovered only slightly from June 2009 onward, wit
7、h improving economic conditions. Despite slight increases in new orders, prices for new ships also declined significantly, with increasing delays or cancellations for orders that had not been commenced. On the whole, this industry is recovering in terms of new orders, but the poor performance is exp
8、ected for several years as it has a long life cycle. Negative effects of the global financial crisis are expected to emerge with slowing industry revenue and profitability growth. With the large volume of handling orders, output of the Ship Building industry in China increased strongly and industry
9、revenue increased by 37.4% in 2009. However, with a major decrease of 55% in the volume of new orders received, the volume of handling orders of shipbuilding enterprises in China was 188.17 million DWT at the end of 2009, down 8% from 2008. Industry revenue growth is expected to slow in the next sev
10、eral years. 2008 In 2008, petroleum prices peaked, contributing to oceanic transportation becoming the cheapest way to deliver cargo over long distances. Therefore, demand for cargo ships, especially container carriers and oil tankers, continued to rise, pushing up ship prices. However, the environm
11、ent for Chinese shipbuilding industries was not favorable in the last quarter of the year. The subprime mortgage crisis in the US caused general demand from the US to drop. This also had severe impacts on global financial market, resulting in difficulties in shipbuilders accessing finance. Also some
12、 foreign clients canceled contracts to reduce financial risks. Further, the Chinese yuan continued appreciating against the US dollar. This made long-term contracts worth less over time. Also, as the Korean won continued depreciating, Korean ships, as well as American ships, became more competitive
13、than Chinese ships. Steel prices continued to increase in the last quarter of 2008. The rising cost of iron and steel smelting and decreasing global iron ore supplies were the main causes of higher raw material costs. Accompanied by relatively low production efficiency, rising steel prices negativel
14、y affected Chinese shipbuilders significantly. Competition from Japan and South Korea intensified. Higher efficiency, capabilities to build high value-added ships, and advantages in the Japanese yen and Korean won contributed to greater competitive strength over Chinese shipbuilders. The inflated Ch
15、ina stock market declined from the beginning of 2008, also negatively affected listed shipbuilding companies. To sustain growth in the negative environment, companies in this industry conducted research and development to improve production efficiency. Increasing required down payment ratios was als
16、o a policy adopted by many firms to minimize risks of further US dollar depreciation. In 2008, industry revenue totaled $45.36 billion, up 72.9%. The very strong revenue growth rate was contributed by the appreciation of the Chinese yuan, the delivery of ship orders received before 2008, and the eco
17、nomic census conducted during the year. The State Administration of Science Technology and WWW.IBISWORLD.COM.CN Ship Building in China December 2011 7 Industry for National Defense reported total ship output of 28.8 million DWT for the year, up 52.2% from 2007. 2007 In the first two months in 2007,
18、newly accepted contracts by Chinese shipbuilders amounted to 49% in the world in compensated gross tonnage, almost twice the new contracts by South Korean shipbuilders. However, the large number of contracts contained inflated factors, such as long-term contracts with delivery due in several years,
19、contracts that were won due to low prices, and contracts with only low-value- added processes performed in China. Long-term contracts mean low actual annual output. Low prices and low value add mean low profitability. In March 2007, STX Shipbuilding Co., Ltd in South Korea initiated the construction
20、 of its production base in Dalian, China, symbolizing that South Korea was enlarging investment in shipbuilding in China. However, the production base was merely a processing base, with no facilities for assembling ships. Other Japanese and Korean shipbuilding companies that would establish China pr
21、oduction bases used exactly the same strategy. The purposes of such strategies are to utilize materials and labor in China with lower costs; to prevent core shipbuilding technologies divulged to Chinese companies; and to easily transport finished ship components back to their countries. Despite thes
22、e factors, the Ship Building industry in China developed rapidly due to the fulfillment of existing contracts, extensive demand from domestic oceanic shipping companies, enhanced production efficiency and innovative shipbuilding technologies. Although efficiency and technologies still lagged those o
23、f Japan and South Korea, Chinese ship builders were narrowing the gap. For example, Chinese firms were now building LNG (Liquefied Natural Gas) ships, which was previously monopolized by South Korea. In 2007, industry output was 18.9 million DWT, accounting for 23% of world output. Industry revenue
24、increased by 43.2% to $26.24 billion. 2006 In late 2005, steel prices fell slightly. However, fulfilling the large volume of contracts required high volumes of steel plates. By the end of 2004, the existing contracts for Chinese shipbuilders amounted to 28.7 million DWT, of which the latest schedule
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- Ship Building in China Industry Report
链接地址:https://www.31doc.com/p-3794779.html