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China ea pigment red 2 rns 70% global market share in shipbuilding<br>
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China earns 70% global market share in shipbuildingPublished: 17 Aug 2009 02:02:01 PST
China's shipbuilding enterprises received orders of more than 4.1 million dead weight tons (DWT) in July, accounting for nearly 70 percent of the global market share, according to statistics from the China International Ship Industry Association (CISIA).
According to the survey of 70 key shipbuilding enterprises, completed shipbuilding in June increased 60.2 percent year-on-year to 12.33 DWT and new orders in July hit 4.1 million, exceeding those in the world’s leading markets of Japan and South Korea. It also tops new orders worldwide for two consecutive months.
The amount of exports from the three major types of ships amounted to $9.13 billion in the first half of this year, making up nearly 70 percent of the total amount of shipbuilding exports.
China is the first market to rebound after the global shipbuilding industry dived and hit bottom in May. According to statistics from Clarkson Research, global orders in the shipbuilding industry hit zero in May, the lowest point in seven years, among which container shipbuilding remained at zero from November 2008 to June 2009.
China's market was also stagnant due to oversupply and suffered from canceled orders, delayed shipments and strained finances in May.
To enhance its shipbuilding industry's competitive edge, China issued a series of policies, including increasing loans to the shipbuilding industry and expanding the domestic demand. Meanwhile, some large shipbuilding enterprises, like COSCO shipyard and China Shipbuilding Industry Corporation (CSIC) cooperated in technology, resources and talents to reduce costs and activate the market.
Restructuring in the industry's structure is underway. "The China shipbuilding industry needs to break through in productivity, efficiency, power consumption, environmental protection and safety after the crises ease," said Yang Xinfa, vice deputy secretary-general of CISIA.
China also strives to move from traditional shipbuilding to high-tech markets like liquefied natural gas (LNG) carriers and ocean engineering due to the financial crisis.
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