China to expand shipbuilding industry

The city of Xiamen in China announced that it will develop shipbuilding and ship repair business by 2015. According to Korea Trade-Investment Promotion Agency?s branch office in Xiamen, the city will secure shipbuilding capacity of 800,000DWT in 2010 and ship repair capacity of 150 ships from 30,000 to 100,000DWT. The shipbuilding capacity will be increased to 1 million DWT in 2015 and ship repair capacity of 300 ships in the same year.