Ship Repairing and Conversion in China - Industry Report.pdf
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1、CONTENTS Error! No text of specified style in document. April 2012 | 1-800-330-3772 | IBISWorld Industry Report 3755 Ship Repairing and Conversion in China April 2012 About This Industry . 2 Industry Definition 2 Main Activities . 2 Similar Industries . 2 Additional Resources . 2 Industry Performa
2、nce 3 Executive Summary . 3 Key External Drivers 3 Current Performance . 3 Industry Outlook 5 Industry Life Cycle . 7 Products ship dismantling accounts for only a small proportion of industry revenue. Main Activities The primary activities of this industry are: Ship conversion Ship dismantling Ship
3、 repairing Shipyard maintenance The major products and services in this industry are: Ship repairing Ship conversion Ship dismantling Similar Industries 3751 - Ship Building in China Firms in this industry manufacture metal ships and boats intended for civil and military use. 3752 - Boat Building in
4、 China Businesses in the industry are mainly engaged in manufacturing non-metal ships as well as the building and repairing of pleasure craft and other non-metal boats. Additional Resources For additional information on this industry: Ministry of Industry and Information Technology China Associati
5、on of the National Shipbuilding Industry National Ship-recycling Association National Bureau of Statistics China WWW.IBISWORLD.COM.CN Ship Repairing and Conversion in China April 2012 3 Industry Performance Executive Summary Following very strong industry revenue growth from 2005 to 2008, the Ship
6、 Repairing and Conversion industry encountered a 5.6% drop in industry revenue in 2009. Despite the 2009 decline, industry revenue has been increasing at an annualized rate of 7.5% in the five years through 2012 to $12.1 billion. Ship conversion contracts decreased significantly in 2009 due to the n
7、egative impact of the global recession and companies looked to reduce expenses. Demand for ship repairing services also declined with weaker international trade activities and a slump in international shipping industries. Influenced by the continued downturn in shipping market and the production cap
8、acity surplus in the industry due to the Euro debt crisis, the total number of ships repaired in 2011 decreased from 2010. The shipping market was low in 2011 and the world economy is recovering weakly in 2012, therefore, industry revenue is expected to increase only 3.1% from 2011. Revenue generate
9、d from foreign clients is estimated to account for over 60.0% of the total industry in 2012, and this share is expected to increase in the future. Over the next five years, industry revenue is forecast to increase at an average annualized rate of 5.6%, totaling $15.9 billion by 2017. Key External Dr
10、ivers The key sensitivities affecting the performance of the Ship Repairing and Conversion industry include: Domestic Goods Prices - Metals - Steel Steel is an important raw material in ship repairing and conversion, and in the production of related auxiliary items. Any increases in steel prices wil
11、l increase operating costs of the industrys firms. Growth (GDP) clients that had planned to purchase new ships or convert old ships chose to extend the life of their existing ships through repairing services due to the global economic turndown. Ship conversion The share of ship conversion in total i
12、ndustry revenue has increased in recent years due to improving conversion technology and design capabilities in China. In 2012, ship conversions account for 42.4% of industry revenue. Ship dismantling Ship dismantling companies in the industry mainly dismantle ship hulks (ships that are afloat but a
13、re not sea-worthy) for scrap. The development of the ship dismantling segment is closely related to international waterway logistics demand, prices of steel and scrap, and prices of hulks on the international market. In 2012, ship dismantling is accounts for 3.4% of industry revenue. WWW.IBISWORLD.C
14、OM.CN Ship Repairing and Conversion in China April 2012 10 Demand Determinants Chinas total goods trade Higher levels of goods trading in China increases demand for transportation, including shipping. Increased shipping stimulates demand for services provided by Chinas Ship Repairing and Conversion
15、industry. Chinas trade in goods has increased substantially in recent years. In 2010, exports and imports totaled $1.6 trillion and $1.4 trillion, respectively, up 31.1% and 38.7% from 2009 Waterway logistics demand According to Chinas Ministry of Transport, the total volume of cargo in China transp
16、orted through waterways increased by 18.8% in 2010, totaling 3.79 billion tons, and accounting for 13.4% of Chinas total transported cargo volumes. Increasing waterway logistics demand accelerates the wear and tear of ships and will increase demand for this industrys services. Berthing capacity In p
17、revious years, the industrys development was restrained by limited berthing capacity. The industry has been constructing new ship repairing facilities, including new facilities with larger deadweight ton (DWT) capacity since the 1990s. By the end of 2008, there were 48 docks with over 10,000 DWT, in
18、cluding 18 dry docks and 30 floating docks in China. Repair prices Relatively low repair prices in China increases demand from foreign shipping fleets. For example, the average price for replacing steel plate in 2008 was about $2,000 to $2,300 per ton, less than 40% than the prices charged by Singap
19、ores, South Koreas and Japans ship repairing industries. Development of Chinas shipbuilding industry As an important supply industry, the development of Chinas Ship Building industry (IBISWorld industry report 3751) directly affects future demand for services provided by ship repairers and converter
20、s. There is a time lag from the manufacturing of a new ship to the demand period for repairing services. Since 2002, Chinas ship building industry has been competitive on the world market. Major Markets Foreign shipping companies 63.5% Domestic shipping companies 36.5% Chinas total goods trade WWW.I
21、BISWORLD.COM.CN Ship Repairing and Conversion in China April 2012 11 Higher levels of goods trading in China increases demand for transportation, including shipping. Increased shipping stimulates demand for services provided by Chinas Ship Repairing and Conversion industry. Chinas trade in goods has
22、 increased substantially in recent years. In 2010, exports and imports totaled $1.6 trillion and $1.4 trillion, respectively, up 31.1% and 38.7% from 2009 Waterway logistics demand According to Chinas Ministry of Transport, the total volume of cargo in China transported through waterways increased b
23、y 18.8% in 2010, totaling 3.79 billion tons, and accounting for 13.4% of Chinas total transported cargo volumes. Increasing waterway logistics demand accelerates the wear and tear of ships and will increase demand for this industrys services. Berthing capacity In previous years, the industrys develo
24、pment was restrained by limited berthing capacity. The industry has been constructing new ship repairing facilities, including new facilities with larger deadweight ton (DWT) capacity since the 1990s. By the end of 2008, there were 48 docks with over 10,000 DWT, including 18 dry docks and 30 floatin
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