China’s shipbuilding capacities have reached 12 million dead weight tonnages (DWT) in 2005, up 36 percent year-on-year, to be ranked third largest worldwide, according to the Commission of Science Technology and Industry for National Defense
, as reported by www.chinaknowledge.com.
The commission said China received record high shipbuilding orders of 15 million DWT last year. The sales revenue of all the country’s shipbuilding companies reached a total of about $12 billion with an industry profit of more than $371.6 million and a ship export value of more than $4 billion.
China State Shipbuilding Corporation and China Shipbuilding Industry Corp., one of the country’s biggest conglomerates in the industry, built 5 million and 3 million DWT of ships respectively in 2005.