The total of China's domestic newbuilding resales during the fourth week of March decreased by 45% compared with the previous week to 16 ships.

While newbuilding prices did not show a noticeable change, international newbuilding resales dropped by 5.35% versus the previous week to 36 ships.

On the contrary, the prices of secondhand tankers and boxships have been showing a downturn.

When it comes to the secondhand ship deals of last month, bulkers accounted for the biggest amount to be sold off followed by barges, multi purpose ships and AHTS in order.

The total number of ships traded in China during the forth week came to 88 ships of 100,401 DWT worth around CNY 111m ($16.9m), showing a drop against the previous week.

While containerships did not show a considerable change in price, bulkers, VLCCs, tankers, aframax-crude oil tankers all dropped in price.

Regarding the market conditions of international secondhand ship dealings, the total amount of dealings is similar to the previous week to 27 ships, increasing by 3.75% versus the previous week.

However, ship scrapping prices showed a different trend depending on ship types.

Chinese ship scrappers have increasingly been importing old ships with the total imports of the fourth week of March coming to 11 ships of 765,416 DWT, which is a 120% and 110% increase respectively.

Various kinds of tankers and 7,000 to 12,000-dwt bulkers witnessed a slight decrease in scrapping price.

Meanwhile, the scrapping prices for international ships increased slightly to 36 ships of 1,786,821 DWT, which is a 44% and 80% rise respectively versus the previous week.