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船舶月度跟踪：2024年1-9月我国造船三大指标同比增长；多家船企签订多型批量订单
Haitong Securities·2024-10-23 03:37

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Insights - In the first three quarters of 2024, China's shipbuilding industry showed significant growth in three major indicators, with completed shipbuilding volume at 36.34 million deadweight tons, a year-on-year increase of 18.2%, new orders at 87.11 million deadweight tons, up 51.9%, and a backlog of orders at 193.3 million deadweight tons, increasing by 44.3% [2] - China continues to solidify its position as the world's leading shipbuilding nation, with 71.7% of global green fuel ship orders secured by Chinese shipyards in the first half of the year [2] - The Ministry of Industry and Information Technology has issued guidelines to promote equipment updates and technological transformations in key industrial sectors, emphasizing smart and green manufacturing in shipbuilding [2] Summary by Sections Market Performance - The shipbuilding industry in China accounted for 55.1% of global completed shipbuilding volume, 74.7% of new orders, and 61.4% of the backlog as of September [2] - In the first half of the year, the industry saw an 18.4% increase in production and a 43.9% rise in new orders [2] Policy Updates - The guidelines from the Ministry of Industry and Information Technology focus on promoting smart and green manufacturing equipment in the shipbuilding sector [2] Order Tracking - Notable contracts include the signing of a record-breaking order for four 11,700-car capacity methanol dual-fuel car carriers by Nanjing Jinling and a 1+1 floating LNG production storage and unloading unit order by CIMC Raffles [3] - The Brent crude oil price was reported at $71.77 per barrel, down 10.22% month-on-month, while the WTI crude oil price was $68.17 per barrel, also down 10.20% [3] Investment Recommendations - The report suggests focusing on companies such as China Shipbuilding, China Heavy Industry, China Ship Defense, China Power, and CIMC Group for potential investment opportunities [3]