Rongsheng pinning hopes on boxships

The pick-up in containership demand will offset a slowdown in orders for dry-bulk vessels and tankers following a surge last year. The shipbuilder expects the total number of ship orders will likely be roughly the same as last year’s tally of about 90.

Rongsheng anticipates that more than half of new orders this year will come from shipping lines in Europe and the rest from the U.S. and Asia. The delivery dates for existing orders extend into 2014. The company, with yards in eastern China’s Jiangsu and Anhui provinces, in November forecasted 2010 full-year profit of 1.61 billion yuan ($243 million). Net income was 1.3 billion yuan a year earlier. Rongsheng’s profit may more than double in 2011 to 4.4 billion yuan according to industry analysts.