Shipbuilders won new contracts for vessels with a total capacity of 52.49m dwt to 30 September, up 38% year-on-year, according to figures from Sinocast.

Yards handed over completed ships of 26.06m dwt in the same period, a fall of 14.9% from 2013.

The combined orderbook stood at 154.71m dwt at the end of September, a rise of 35.7%.

Vessels contracted by owners outside China made up more than 95% of the total.

Despite