2004, a record year for CSIC

The China Shipbuilding Industry Corp. (CSIC), the largest shipbuilding company in China, received more than six million tons of new ship orders in 2004, ranking first in domestic shipbuilding companies. Li Changyin, CSIC general manager, said that the company built 2.14 million tons of new ships in 2004, up 30% year on year, while its business sales were $4.8 billion in 2004, up 37%.

In total, China’s shipbuilders delivered 8.5 million tonnes of newbuildings in 2004, accounting for 17% of the world market. At present, CSIC has 10.24 million tonnes of new ship orders in hand valued at $5.7 billion. Li said the company will build three million tonnes of ships valued at $6 billion in 2005.