Chinas shipbuilding output expanded in 2009

Last year China overtook South Korea as the country with the largest volume of new ship orders and, according to the latest statistics, in 2009 China’s completed shipbuilding output totalled 42.43 million dwt, up 47 percent year on year, while new orders placed that year amounted to 26 million dwt, down 55 percent.

By the end of December 2009, ship orders in hand came to 188.17 million dwt, down eight percent compared with the end of 2008. In summary, China’s completed shipbuilding output, new orders and orders in hand accounted for, respectively, 34.8 percent, 61.6 percent and 38.5 percent of the world market.