China shipbuilding achieved big success in 2003

In 2003, ships completed in China reached 6.05 million dwt, an increase of 31% over 2002 ( 4.61 million dwt), while new orders received reached 18.5 million dwt, an increase of 174% (6.74 million dwt in 2002. Ship orders in hand reached 26.59 million dwt, an increase of 95% (13.62 million dwt in 2002 ) and earned the country $3.022 billion in exports to 93 countries and accounted for over 60% of the national construction. Europe and Asia are the two major market for Chinese built ships with the 56% destined for Europe valued at $1.695 while Asia took second place with 31.8% totaling $0.961 billion.

There are 8 shipyards whose export value exceeded $100 million in 2003. These were Dalian New Shipyard, Dalian Shipyard, Hudong Zhonghua Shipyard, Guangzhou International Shipyard, NACKS, Jiangnan Shipyard, Shanghai Shipyard and Fujian Shipbuilding Group. Large vessels above 70,000DWT accounted for 46.9% of newbuildings and, in the new orders, the ratio is 67%.