Thirty nine leading Chinese yards accounted for 93.3% of newly received newbuilding orders in the first nine months of this year, underpinning the trend of new orders being concentrated in only a handful of stronger yards.

China boasts some 1,600 shipyards countrywide, but 39 leading yards took 35.51m dwt of newbuilding capacity, representing 93.3% of the market's total of 38.06m dwt from January to September, according to the latest figures released by China Association of the National Shipbuilding Industry (Cansi).

In completed tonnage, China delivered a total of 30.61m dwt during the recorded period, down 26.4% compared to the previous corresponding period. The 39 leading yards completed 26.05m dwt of new vessel tonnage, taking up 85% of the country's market share, Cansi figures showed.

As at the end of September 2013, Chinese yards sat on an orderbook of 113.97m dwt in capacity, down 5.7% compared to the same period of 2012 and down 6.6% compared to the end of last year. The 39 yards registered an orderbook of 104.39m dwt, down 2% year-on-year.

Foreign shipowners continued to be the biggest customers at Chinese yards, with 25.8m dwt of completed vessel tonnage exported while 99.49m dwt of existing orderbook has been placed by overseas owners.

By value, 80 stronger Chinese yards completed a total tonnage worth RMB256.39bn in the first nine months, down 12.9% compared to a year earlier.

Earnings for the 80 Chinese shipbuilders also dipped during the nine-month period, according to Cansi. Net profit for the 80 companies was reported at RMB4.9bn, a decrease of 53.9% year-on-year, and revenue came up to RMB182.31bn, down 15.8%.

Chinese shipyards boast a total shipbuilding capacity of 80.1m dwt with utilisation at only 50-55% during the first nine months of this year, falling from about 75% capacity utilisation in 2012, according to Bao Zhangjing, director of China Shipbuilding Industry Research Center. Bao further pointed out that Chinese yard capacity is anticipated to shrink by 30% in 2015.