Report: Value of China Marine Sector to Exceed $433b

Monday, February 25, 2008
China's seas will contribute $433b or more than five percent of the country's gross domestic product (GDP), in 2010, according to a report on China's marine development. The report, issued on Friday by the State Oceanic Administration (SOA), also predicted the country's offshore crude oil output would exceed 50 million tons. It said China's current offshore oil and gas exploration was "still in an infant stage", with 80 percent of oil and gas resources yet to be tapped. The country's explored crude oil only accounted for 17.6 percent of the reserve at sea, and natural gas that was tapped out only made up 11.9 percent of the national sea reserve, it said. The report, mainly drawing from past experience so as to offer "strategic suggestions" to decision makers, singled out marine industries, included fishing, transport, oil and gas, tourism and shipbuilding. Shipbuilding capabilities in 2010 will reach 21 million tons, according to the report. Around 2020, China would become a world power in the sector. Source: China View
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

AVEVA E3D Takes Center Stage

Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets.

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

Hyundai Heavy Plummets to Worse Loss Ever

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1098 sec (9 req/sec)