China’s Shipbuilding Capacities Reached 12 Million DWT

Reports indicate that China’s shipbuilding capacities have reached 12 million dead weight tonnages (DWT) in 2005, up 36% year-on-year, to be ranked third largest worldwide, according to the Commission of Science Technology and Industry for National Defense, as reported on the official website of Chinese Academy of International Trade and Economic Cooperation. 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 RMB 100 billion with an industry profit of more than RMB 3 billion and a ship export value of more than $4 billion. Source: China Knowledge Press