Shandong aims to expand shipbuilding yards

Shipbuilding enterprises in east China’s Shandong province are presently holding orders for 120 new ships with a contract value totalling $566 million. About $430 million of the shipbuilding orders are for export which represents a 4-fold increase year-on-year.

The province has seized the opportunity to expand ship production as evidenced by the Beihai Heavy Industry Group which has developed an annual ship building capability of 4.7 million tonnes by investing $759 million. Meanwhile, a group of other major shipyards such as the Lingshan Shipyard, Weihai Shipyard and the Yellow Sea Shipyard are engaging in massive technological upgrading and expansion projects. The province is expected to develop an annual shipbuilding capability of 10 million tonnes by 2010.