China shipbuilding remains world number one


China's newbuilding orders reached 69.84M dwt in 2013, an increase of 242% year-on-year, according to the China Association of National Shipbuilding Industry (CANSI). This was 47.9% of the global market in terms of tonnage. At the end of December 2013, China's order book stood at 131M dwt, which was 22.5% higher than at the same time in 2012, and amounted to 45.9% of the world market. However, China saw its shipbuilding output drop by 24.7% year-on-year to 45.34M dwt for the whole of 2013. This was 41.4% of the global market in terms of tonnage. Newbuilding delivery in 2014 is expected to remain the same as in 2013 or even fall slightly, according to shipping experts at the Ministry of Industry and Information Technology, although the offshore sector is likely to continue to thrive, especially for floating offshore facilities.

Source from : IHS Maritime 360