China's shipbuilding industry more attractive to the world

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Last updated at: (Beijing Time) Friday, January 16, 2004

China's shipbuilding industry more attractive to the world

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China delivered the world's first vessel used for installing ocean windmills and a 230,000 dwt oil tanker, the largest ever in China, to overseas shipowners last year, indicating that China-made vessels are more attractive to global market.

Li Changyin, general manager of the China Shipbuilding IndustryCorporation (CSIC), said Thursday that with more and more China-made vessels sailing overseas, China's shipbuilding industry is becoming internationally competitive in quality, performance and speed of building, as well as in costs.

CSIC, one of the country's two largest shipbuilders, received new ship orders of more than 4.2 million tons in 2003.

China has remained the world's third largest shipbuilder for nine consecutive years since 1994, only behind the Republic of Korea (ROK) and Japan.

Statistics show that in 2003, China's shipbuilding industry delivered a total of 6 million dwt of vessels, reaching a global share of ten percent for the first time.

The warming international shipping market offered great space for China's shipbuilding sectors. With the increasing shipping cost, more and more international shipowners plan to expand their fleets.

Under such opportunities, China's shipbuilding industry received a total of 18 million dwt of ship orders in 2003, increasing its global share of 13 percent in 2002 to 18 percent in2003.

The most remarkable ship order of these new orders last year isthe one signed on Dec. 30, 2003, an order from Japan for two 175,000 dwt Capesize bulk carriers.

The order was made between China's other largest shipbuilder, the China Shipbuilding Industry Corporation (CSSC), and Japan's leading shipping firm NYK Line, as the first major ship contract between China and Japan.

It is rare for China's shipyards to get big orders from Japanese clients, because Japan has a powerful shipbuilding industry and its shipowners are encouraged by favorable treatment to place new ship orders at domestic shipyards.

The great advancement of China's shipbuilding capability has been widely recognized by the global shipping community, said Tadatoshi Mamiya, executive vice president of NYK Line.

Mamiya said the NYK Line plans to build 160 new vessels from 2003 to 2007, including 21 Capesize bulk carriers.

CSIC General Manager Li Changyin said that the new orders signed last year realized a year-on-year increase of 244 percent, which is even more than the total of the previous three years.

According to Li, the corporation has obtained a contract value of 40 billion yuan (about 4.8 billion US dollars), up 27 percent over the previous year, and the accumulated ship orders have exceeded 6.3 million tonnage, an increase of 67 percent.

China's other shipbuilding giant, China Shipbuilding Industry Corporation (CSSC), received new ship orders of 8.7 million tonnage last year, 253 percent more than that of the previous year.

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