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China's ship-building industry suffers slumped market

(Xinhua)

11:20, October 08, 2011

BEIJING, Oct. 7 (Xinhua) -- Affected by the continuously slumped international ocean-going market, China's ship-building industry is having a difficult time, with ship delivery of only 4.7 million DWTs in August, down nine percent year-on-year.

A report on the website of the National Development and Reform Commission said in the first eight months, China's ship-building industry finished 43.16 million DWTs, up 6.9 percent year-on-year, but new orders fell 36.9 percent to 28.07 million DWTs. In August, new orders were 4.49 million DWTs, diving 60 percent.

This year so far, some 40 percent of the country's dockyards have had no new orders at all, the report said.

By the end of August, the ship-building industry had 175.78 million DWTs of orders in hand, down 9.4 percent from the same period last year and 10.3 percent from the end of 2010.

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