Chinese shipbuilders? big surge

Chinese shipbuilders completed 6 million DWT ships last year, up 46% compared to 2002. China State Shipbuilding Corporation (CSSC) completed 2.17 million DWT last year and won new orders totaling 8.7 million, up 253% from last year (2002). Its orderbook as at the end of 2003 was 11.62 million DWT, a 200% increase over a year earlier.

Last year China Shipbuilding Industry Corporation (CSIC) completed 1.65 million DWT of ships which represented an increase of 20% compared to 2002. Intake of new orders expanded by 244% to 4.2 million DWT and, as at the end of 2003, the order backlog stood at 7 million DWT, an 85% increase compared with a year before.