Chinese Shipbuilders New Orders Up 44.3%

Chinese shipbuilders completed 8.46 million DWT of shipbuilding orders in the first two months, down 7.8 percent year-on-year, reports yicai.com, citing a company filing.

New ship building orders totaled 8.26 million DWT, up 44.3 percent year-on-year in first two months.
Shipbuilders had 194.66 million DWT of ship orders on hand as of end February, up 4.1 percent year-on-year.
Major shipbuilders posted industrial output value of 99.7 billion yuan in the first two months, up 22.1 percent year-on-year.
The industrial output value of the shipbuilding and ship repairing businesses in the first two months increased by 21.1 percent and 28.7 percent year-on-year to 77.3 billion yuan and 11 billion yuan respectively.
Shares of Guangzhou Shipyard International (600685) rose 0.68 percent to close at 30.88 yuan today.