China's Shipbuilding Industry is on the Fast Path

Accoring to the report from Xinhua China's ship export volume surged 74 percent to 8.11 billion U.S. dollars in 2006. Two leading Chinese shipbuilders, Dalian Shipbuilding Industry Co Ltd and Shanghai Waigaoqiao Shipbuilding Co Ltd, became world top-10 shipbuilders.

Chinese shipbuilders produced 14.52 million deadweight tons last year, nearly 20 percent of the world's total, compared to only 6 percent of the global market in 2000. More important, Their profitability has also improved. The industry's total profits doubled last year to reach a record high of 9.6 billion yuan, more than the combined profits of the previous five years.

Types of made-in-China ships have developed from conventional bulk carriers and crude oil tankers into high value and sophisticated vessels, such as very large crude carriers (VLCCs), liquefied natural gas carriers and high-speed containerships.

My another blog has some details about the orders Chinese companies received last year.

Chosun, a S Korean media, said that Chinese shipbuilders received orders of 1.4 million CGT in January, 2007, almost half of the world total order volume of 2.8 million CGT.