China builds ships totaling 12 million dwt in 2005

China built ships totaling 12 million dead weight tonnages (dwt) last year, up 36 percent year-on-year, becoming the third biggest shipbuilding nation in the world, while its share of the world ship market grew to 18 percent, officials said Thursday.

Jin Zhuanglong, spokesperson for the Commission of Science, Technology and Industry for National Defense, said the country's shipbuilding sector posted over 3 billion yuan (about 360 million U.S. dollars) in profits, and 4 billion U.S. dollars in foreign exchange earnings in 2005.

Total sales revenues of the country's major shipyards reached 100 billion yuan, up 18 percent, said the spokesperson.

China also received 15 million dwt ship orders in the past year, bringing its overall volume of orders for ships to 37.6 million dwt by the end of last December, up 9 percent, said Jin.

Source: Xinhua