China Tops Global Shipbuilding Orders

18 August 2009 (Last Updated August 18th, 2009 18:30)

China's shipping industry has received new orders representing about 70% of the world's total shipbuilding orders, accounting for about 4.1 million dead weight tons, according to a report. The orders represent more than the combined volume of orders by the two largest shipbuilding count

China’s shipping industry has received new orders representing about 70% of the world’s total shipbuilding orders, accounting for about 4.1 million dead weight tons, according to a report.

The orders represent more than the combined volume of orders by the two largest shipbuilding countries in the world, Japan and South Korea, according to the China Association of the National Shipbuilding Industry (CANSI).

In July the world’s total new shipbuilding orders exceeded 6.3 million dead weight tonnes accounting for 1.2 times more than first half of 2009, statistics by UK-based Clarkson Company reveal.

China’s shipbuilding industries have also received the highest new orders for two consecutive months in June and July, CANSI said.

In May 2009, there were no global shipbuilding orders, setting the lowest record in at least seven years according to the report.