Chinese completed shipbuilding output rises 168 percent in Jan-Feb

According to the figures issued by China's Ministry of Industry and Information Technology on March 17, in January and February Chinese completed shipbuilding output totaled 9,180,000 deadweight tons (dwt), up 168 percent compared with the same period last year. The completed output in question, of which 82 percent was destined for export, was equivalent to a 46.1 percent share of the world market in the January-February period
Meanwhile, China's newly-received ship orders in the first two month of the current year totaled 5,720,000 dwt, up 8.7 times the amount in the same period last year and accounting for a 51.9 percent share of the world market. Exports made up 54 percent of newly-received orders for the period. Up to the end of February, China's total current shipbuilding orders in hand amounted to 186,950,000 dwt, down 0.6 percent comparing to the end of 2009. Total existing orders, of which exports account for 88 percent, are equivalent to a 37.6 percent share of the world market.