China: Shipbuilding Industry Stages Strong Recovery

China recorded a 94.9 percent year-on-year surge in completed shipbuilding volume to 18.6 million deadweight tons (DWT) in the first four months of the year, according to the Ministry of Industry and Information Technology (MIIT). New orders in the first four months surged 12 times to 12.77 million DWT.
The volume of shipbuilding orders on hand as of end April fell 1.9 percent from end 2009 to 184.58 million DWT.
In the areas of completed shipbuilding volume, new contract orders and orders on-hand, China had global market shares of 39.1 percent, 47.2 percent and 37.8 percent respectively.
The share price of China CSSC Holdings (600150) was down 1.36 percent to close the morning session at 62.25 yuan