China Remains World's Third Largest Shipbuilder

Home>>Business

Last updated at: (Beijing Time) Friday, January 17, 2003

China Remains World's Third Largest Shipbuilder

China retained its position as the world's third largest shipbuilder for the eighth consecutive year in 2002, China's shipbuilding industrial sources said Friday.

DISCUSSION

CHINESE

SEND TO FRIEND

China retained its position as the world's third largest shipbuilder for the eighth consecutive year in 2002, China's shipbuilding industrial sources said Friday.

Vessels completed in the country reached 4.46 million tons in 2002, next only to Japan and the Republic of Korea, according to China's top two shipbuilding giants, the China Shipbuilding Industry Corporation (CSIC) and the China State Shipbuilding Corporation (CSSC).

The two companies shared 60 percent of China's shipbuilding market, a total amount of 2.6 million tons, with the remaining market covered by local shipbuilding companies.

China is exerting visible advantages in boosting its shipbuilding market with strong human resources, an expanded domestic market, and an improved investment environment, said CSIC President Li Changyin.

Statistics show that by 2010, about 45 million tons of vessels will be needed annually in the global shipbuilding market, and the annual vessel order from domestic shipping companies from 2001 to 2005 will top two million tons, an annual growth rate between eight percent and 10 percent.

Li said, to meet the surge of market demand, the CSIC plans to increase its annual vessel output to eight million tons in 2020.

A total of 15 billion yuan (1.81 billion US dollars) has been input for developing vessels in CSIC since 2001, said Li, adding that some high-tech and high additional value vessels have been produced, including 300,000-ton oil tankers and 5,668-TEU container vessels.

Currently, over 60 percent of vessels produced in China have been exported to over 80 countries and regions worldwide, including major shipping countries like Greece, Norway, the United States, Britain and major shipbuilding powers such as Japan, the Republic of Korea and Germany.

Questions?Comments? Click here

Chinese Shipbuilding Giant Develops Fast in 2002

China's Shipbuilding Giant Consolidates Bases

China's Largest Shipbuilding Base Completed

Jiang, Bush Talk over Phone on DPRK Nuclear Issue ( 9 Messages)

China Indignant over PM Koizumi's Shrine Visit ( 7 Messages)

Thousands Protest in Los Angeles against US War against Iraq ( 2 Messages)

China's Vehicle Output Ranks World Fifth ( 2 Messages)

Reflector Installed on 'Shenzhou IV', Measurement Accuracy Greatly Raised ( 2 Messages)