The shipbuilding industry in China continues to show steady growth
Shipbuilding production in the country increased by 12 per cent year-on-year
According to industry data, China maintains its leading position in the global shipbuilding market during January to October 2023, supported by significant production growth and new contracts.
A report from the China Association of the National Shipbuilding Industry reveals that shipbuilding production in China during this period experienced a 12% yearly increase, reaching 34.56 million deadweight tonnes (dwt), accounting for 49.7% of the total global output. This is reported by
China Daily, a partner of TV BRICS.
New orders rose 63.3 per cent year-on-year to 61.06 million dwt, representing 67 per cent of global volume, according to the association.
Existing orders stood at 133.82 million dwt at the end of October, up 28.1 per cent from a year earlier and accounting for 54.4 per cent of the global total.
China’s shipbuilders exported ships worth a total of $21.14 billion in 10 months, up 21% from the same period last year.