China’s shipbuilding output up 6.7pc in first three quarters

BEIJING (Xinhua) – The completion volume of shipbuilding in China rose 6.7 per cent year on year in the first nine months to 29.36 million deadweight tonnes (dwt), official data showed.

The figure accounted for 37.8 per cent of the global market share and China continued to maintain the leading position in shipbuilding globally, according to the Ministry of Industry and Information Technology.

New shipbuilding orders stood at 19.47 million dwt in the January-September period, down 27.4 per cent year on year, but the decrease rate was 19.5 percentage points lower than the first half-year.

The number of new orders accounted for 46.6 per cent of the market share worldwide.

The volume of holding orders stood at 79.41 million dwt at the end of September, down 8.2 per cent year- on-year.

The holding orders accounted for 43.1 per cent of the total worldwide.

About 91.9 per cent of the holding orders were for exports at the end of September.