CSIC Builds 3.17M Tons of Ships in 2005

The China Shipbuilding Industry Corp.(CSIC) built 3.17 million tons of new ships in 2005, up 47 percent. In 2005, the CSIC received 3.73 million tons of new orders and 2.85 million tons of new ships are under construction. China's shipbuilding companies built 12 million tons of new ships in 2005, accounting for 18 percent of the world market, ranking third after the Republic of Korea and Japan. Currently, the corporation has 10.7 million tons of new ship orders at hand, with a contractual value of 81 billion yuan, up 40 percent year-on-year. Major companies have orders at hand until 2009. Source: Xinhuanet