Chinese shipbuilding industry has seen its Q1 profit decreased and increase of economic benefits slowed down, due to troubled shipbuilding market.

During the first three months, China\'s 1,624 shipbuilding-related companies over a certain level\'s operating revenue totalled CNY 150.7bn ($23.75bn), up by 9.4% year on year, of which, shipbuilding and marine equipment industries increased by 7.9% and 19.4% to CNY 113.5bn and CNY 19.9bn, while ship repair decreased by 4.7% to CNY 3.2bn, according to the China Association of the National shipbuilding Industry (CANSI).

These companies\' total profits, during the same period, declined by 7.3% to CNY 8.2bn, of which shipbuilding and marine equipment dropped by 14.4% and 3.5% to CNY 6.57bn and CNY 800m and ship repair turned to the red ink of CNY 38m falling by CNY 59.86m year-on-year.