China becomes the No 1 shipbuilding nation
December 19, 2017 Category China News Round-up, Weekly
China’s rebounding shipbuilding industry reached the top place in the world in the past 11 months, surpassing South Korea, according to British shipbuilding and marine analysis agency Clarkson Research Services. From January to November, China’s shipbuilding order volume totaled 7.13 million compensated gross tons (CGT) from 324 vessels, followed by South Korea, which has received 5.74 CGT. It is the first time in the past seven years that China has exceeded South Korea in shipbuilding orders. The data also show that China’s shipbuilding industry secured 36.3% of the global market, 7 percentage points more than South Korea, which accounts for 29.4% of global orders.
Chinese shipyards have been performing well this year. This August, French group CMACGM ordered nine 22,000 TEU container vessels from Shanghai Waigaoqiao Shipbuilding Co and Hudong Zhonghua Shipbuilding Co. In October, China State Shipbuilding Corp, China Investment Corp and Carnival Corp, the world’s biggest cruise operator, signed an agreement to invest a total of CNY25.5 billion to build a super luxury cruise ship. It was also the first order of this kind Chinese shipbuilding companies had ever received. Dong Liwan, a shipbuilding industry researcher at Shanghai Maritime University, said with the orders for high-value-added ships continuing to go to Chinese shipyards, their South Korean competitors will definitely feel the pinch.
China’s shipbuilding industry is also becoming more intelligent and environmentally friendly. “While maintaining growth, it is realizing production mode transformation, structural adjustment and transformation, and upgrading, and reinforcing China’s shipbuilding status in the world,” Sun Licheng, President of the China Classification Society said. He added that the goal is to become a strong shipbuilding country by 2020. At the recent All China Maritime Conference and Exhibition, China State Shipbuilding Corporation has delivered the world’s first smart ship, Great Intelligence, with a loading capacity of 38,800 metric tons, the China Daily reports.
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