China: Completed Shipbuilding Vol. Up 87% In H1

The shipbuilding industry recorded a 86.7 percent year-on-year surge in completed shipbuilding volume to 29.63 million deadweight tons (DWT) in the first half of 2010, according to the Ministry of Industry and Information Technology (MITT). Shipbuilding construction orders rose four times year-on-year to 23.78 million DWT in the first half of 2010.
Total contracts on hand as of end June hit 184.27 million DWT, down 2.1 percent from end 2009.
China’s global market share of completed shipbuilding volume, new contract orders and orders on hand as of end June were 41.1 percent, 46.2 percent and 37.7 percent, respectively.
Shares of China CSSC Holdings Limited (600150) fell 2.59 percent to trade at 56.05 yuan at 2.24 today.