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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Bay-Houston's New Escort Tug Launched

Eastern Shipbuilding Group, Inc. has launched Laura B, the final vessel in a series of four Robert Allan, LTD. (RAL) designed Z-Tech 2400 Class terminal and escort

Damen Presents Decommissioning Vessels Concept

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas

India Govt, Cochin Shipyard Pact on FY17 Growth Targets

Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0699 sec (14 req/sec)