An insider said in the interview at the 11th International Shipbuilding, Ports and Marine Equipment Exhibition in Dalian that Shipbuilding market is recovering, but ship prices are still not rebounding and most of the shipbuilding companies are in a stage with small profits.

Shipbuilding industry now is seeing a blowout of intermittent orders which misled many people to think that ship owners began to go bottom fishing and the recovery of shipbuilding market is just around the corner. While according to the data presented by the chairman of China Shipbuilding Industry Association (CANSI)Mr.Guo Dacheng, Chinese shipyards' new orders rose 36% year on year to 47.4Mdwt in the first eight months of 2014,and grew 34% y/y to 153.7Mdwt at the end of August, or up 17% from the amount at the end of 2013.

However, the burst of new orders brought by the limited recovery of shipping market has not resulted in the same increase of shipbuilding companies’ performance and profits. According to some companies’ semiannual reports, except for CSSC, other shipbuilding companies saw declining performances even deficit. Actually, the rise of orders is realized by sacrificing shipbuilding companies’ own profits because the most active time of transmission is the bottom of ship prices.