China's Shipbuilding Firm Clinches New Orders

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Last updated at: (Beijing Time) Saturday, June 28, 2003

China's Shipbuilding Firm Clinches New Orders

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China's major shipbuilding company has signed deals involving 3.6 million tonnage during the first five months of this year, reaching its annual target of 3 million tonnage seven months ahead of its schedule.

Chen Xiaojin, general manager of China State Shipbuilding Corporation, said contracts were up 197 percent year on year.

Ships for overseas customers accounted for 71 percent of the contracts, he said.

The group company had orders for new ships with a combined tonnage of 7.49 million tons, up 3.01 million tons over the same period of last year.

Chen said his shipyards in Guangzhou and Shanghai had been hit hard by the severe acute respiratory syndrome (SARS) outbreak and rising steel prices.

With face-to-face meetings difficult during the past two monthsdue to SARS, the corporation had to rely on teleconferences, phones, fax machines and other electronic telecommunications methods to do business.

The corporation received orders totaling 1.97 million tons during April and May, but their production value from ship repairsand new orders for ship repairs dropped 18 percent and 12 percent respectively.

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