China Leads Global Shipbuilding Industry: Cansi
Chinese Association of the National Shipbuilding Industry (Cansi) said that China maintained its top position in the global shipbuilding industry in 2018.Chinese companies built 43.2 percent of the new ships in the world last year, up from 41.9 percent a year ago, cementing the country's leading role in the sector, Xinhua reported quoting Cansi.It said that China received 43.9 percent of global new orders last year and held 42.8 percent of the current orders.From the 1950s to the beginning of the 21st century, the three indices were topped by Japan or the Republic of Korea (ROK), while In 2010, China exceeded the ROK and ranked the first in the world.Given a lackluster global economy…
China Government Responding to Shipbuilders' SOS
The combined profits of 80 major ship builders monitored by the Chinese Association of the National Shipbuilding Industry nose-dived by 53.6 percent in the first half of the year to 3.58 billion yuan ($584.1 million), while business revenues plunged 18.5 percent to 120.3 billion yuan ($19.66 billion). In response the State Council has issued a support plan aimed at keeping the shipbuilding sector afloat, reports the 'China Daily'. The Hengfu Shipyard, headquartered in east China's Zhejiang province, used to be an industrial heavyweight with an annual production capacity of 1 million deadweight tons of vessels. However, the ship producer declared bankruptcy in 2011 due to a lack of orders and mounting debts.
