The output of China's shipbuilding industry reached 12 million tons in 2005, making up 18 percent of the global share, according to the China Shipbuilding Industry Association.

According to the association, China's top two shipbuilding giants, the China Shipbuilding Industry Corporation (CSIC) and the China State Shipbuilding Corporation (CSSC), reported annual output of 3 million tons and 5 million tons respectively.

The two companies took two-thirds of China's shipbuilding market, said the association. The rest of the market is covered by local shipbuilding companies.

Sources from the CSSC said the company now has a total of 16 million dwt of ship orders, with a full production schedule for the next three years.

Source: Xinhua