Sales Increase In New Ship Building Category
As disclosed in the interim report of COSCO, the total coatings revenue of the two COSCO joint ventures has increased by 1% and operation profit 6% in the first half of 2015. Although the growth is not two digits any more, we can find by digging a little deeper into each category’s performance that a total of 7,425 tons of the industry heavy-duty anticorrosion was sold in H1 of 2015, representing an increase of 14% over H1 of 2014. Besides, COSCO Jotun sold a total of 53.7 thousand tons marine coatings, increased by 49% over H1 of 2014. And 77% of the marine coatings sold went into the new built ship category. These numbers, coupled with the changes in marine coatings’ downstream market, verify the happening of the trend of capacity concentration in China’s anticorrosion coatings market.