China overtakes S Korea as worlds largest shipbuilder

China surpassed South Korea to become the worlds largest shipbuilder in 2010 in terms of shipbuilding capacity and new orders, according to recently released statistics from Chinas Ministry of Industry and Information.

The statistics show that from January to December 2010, Chinas shipyards finished building 65.6 million deadweight tons, an increase of 54.6 percent year on year. They received new orders exceeding 75 million deadweight tons, nearly triple the amount of a year earlier.

The great development of the shipbuilding industry in recent years can be mostly attributed to the increasing capacity requirements due to economic growth, said an expert from the economic research center of Chinas shipbuilding industry.

Chinas shipbuilding enterprises are mainly distributed among Jiangsu, Shanghai, Zhejing, Shandong and Guangdong, with Jiangsu ranking first.


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