China State Shipbuilding Corp. (CSSC), a top shipbuilding company in China, has built 2.87 million tons of new ships in the first half of 2005, up 61 percent compared with the same period last year.

Among the total, nearly 80 percent are for export, said Chen Xiaojin, general manager of the CSSC, Wednesday.

The CSSC built 3.57 million tons of new ships in 2004, up 64. 5 percent year on year. Of the total tonnage of ships constructed, 73.8 percent have been exported.

Chen said the company will become one of the top five shipbuilding companies in the world by the end of this year.

In 2004, China built 8.8 million tons of ships, accounting for 14 percent of the world total. China has been the third largest shipbuilding country in the world for consecutive ten years.

It is predicted that China is expected to build more than 10 million tons of ships this year, accounting for 18 percent of the world total.

Source: Xinhua