CSIC ups output

The China Shipbuilding Industry Corp. (CSIC), one of the two largest shipbuilding groups in China, built 3.17 million tonnes of new ships in 2005, up 47%.

In 2005, the CSIC received 3.73 million tonnes of new orders and 2.85 million tonnes of new ships are under construction. The profit it earned topped one billion Yuan, up 85% year-on-year. At present the corporation has 10.7 million tonnes of new ship orders in hand, with a contractual value of 81 billion Yuan, up 40% year-on-year.