Beijing: The China Association of the National Shipbuilding Industry (CANSI) has released its 2012 annual report.

According to the report, China completed shipbuilding volume of 60.21m dwt, a drop of 21.4% year-on-year, and received new orders volume of 20.41m dwt, a 43.6% decrease year-on-year.

In 2012, the offshore equipment market gained steady growth, and made several breakthroughs in R&D, design and construction. According to preliminary statistics, the international market share of China’s offshore products increased from less than 10% in 2011 to more than 15% in 2012.

CANSI predicts the international shipping market will improve slightly in 2013 and the shipbuilding industry in China will remain in the doldrums, however, the offshore market will remain active, especially the floating offshore equipment market.

CANSI suggests that the shipyards should accelerate transformation, strengthen risk control abilities and international cooperations, and diversify business models in order to ease financial pressures.

Source from SinoShip