CSIC Set to Triple Turnover

According to reports China Shipbuilding Industry Corp plans to triple its turnover by 2015 when it expands its building capacity to meet rising global demand. The Beijing-based group said yesterday it expects to achieve a turnover of $18.75b in 2015. The shipbuilder plans to expand its annual output to 14 million deadweight tons in 2015, and 11 million in 2010, against last year's 4 million dwts, he said. The company said the global trade and shipping industry is fueling demand for more and larger ships and the company's production schedule is full until after 2010, adding that CSIC currently has an order book of 15 million dwts. The production facilities located in Shanghai's Lingang Industrial Park in Nanhui District are expected to achieve a production capacity of 350 sets in two or three years. Shanghai Daily