China Shipbuilding Winning More Orders

According to a report from Bloomberg, China State Shipbuilding Corp.'s orders improved significantly from a year ago as the global economy and shipping business recovered, a company executive said. The state-owned company has won orders of about 40 million deadweight tons through the year 2012. Chinese shipyards almost doubled production in the first four months of the year as the end of the credit crunch and rebounding global trade revived demand for new ships.

(Source: Bloomberg)