NEWS
NEWS
SHIPREPAIR MARKETS BOOMING, DMTech WORKSHOP BUSY
Time of issue：
2024-05-01
According to analysis, the Chinese ship repair markets will continue to prosper in the coming years.
According to analysis, the Chinese ship repair markets will continue to prosper in the coming years.
Firstly, The marine shipping market needs to meet the mandatory requirements of classification societies for special inspections and docking every 4-5 years. Some intermediate inspections involve the propulsion system of the main engine, propellers, shaft systems, and other projects that also require docking repairs.
Secondly, The merchant fleets are gradually aging, and environmental regulations are becoming stricter. Most ships either adopt low-carbon solutions to retrofit or choose to scrap them. It is predicted that a large-scale wave of ship scrap will not occur yet. But many old ships will turn to sanctioned sailing routes to obtain higher profit. It’s a good news for the ship repair market.
Thirdly, The situation in the Middle East greatly affecting the ship repair business in the Middle East and the Mediterranean region. The number of ship repairs in the Middle East region has significantly decreased from the fourth quarter of last year.
Fourthly, The ship repair capabilities in China is strengthening. The Zhoushan area is a major market for ship repair in China, even in the world. COSCO Zhoushan S/Y started construction of Dock No. 4 in April , which is a 300000 ton dry dock. After completion in 2026, 350 ships per year can be repaired . In the past years, Zhoushan Changhong and Zhoushan Huafeng have respectively integrated and expanded. The annual repair volume of the two big shipyard is expected to exceed 500 ships, totally more than 1000 vessels. The distribution of shipyard in Chinese coast area is more reasonable. Between Bohai Bay, Yangtze River Delta, and Zhujiang River Delta regions, shipyards of Shandong and Fujian are coming up. Shipowners have more options for dry-docking on nearby routes.
Fifthly, According to the big data platform of COSCO Shipping in 2023, for 10000dwt vessels, there will is 11900 vessels repaired in the globe, of which 6442 were dry-docked in China, accounting to 54.12%; for over 50000dwt vessels, 5580 ships have been repaired globally, of which 3755 are by Chinese shipyard, accounting to 67.27%. The ship repair market in China continues to develop.
All the shipyards were very busy with dry-docking since April. Consequently, the third-party services such as DMTech engaging in the refurbishment and repair of ME & DG parts is also full of orders. DMTech got the orders from 66 vessels in last month. The point is they delivered 50 main engine cylinder covers in one month, they completed 2.5 pcs every working day. Among the 66 vessels, 5 ships were refurbished all complete ME cylinders. DMTech always provides professional products by swift delivery and premium quality with cost-effective.
The end of 2023, DMTech increased 1000 square meters standardized workshop and various facilities. DMtech locates in Nantong, the Yangtzi River Delta Region, has the great advantages of position and competitiveness. DMTech service from Nantong to Shanghai in 2 hours , to Zhoushan in 4 hours. Moreover, the service expands to shipyards of South and North China, they may collect and delivery the parts in next day around 1000 Km.
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