Hong Kong: The first full year figures for global shipyard results in 2007 show China is on course to overhaul Japan, but not quite yet. Singaporean shipbuilding database Worldyards has published its annual figures in compensated gross tonnes, excluding offshore, showing that as of the end of last year China had 30.2% of the total orderbook, behing just Korea which, with 60,328,030 cgt, has 40.54% of the market. Japan in third place had a 17.67% share while upcoming nations India and Vietnam were fourth and fifth with 1.2% and 1.17% respectively.
However, when it came to ships delivered last year, China could only boast 17.47% (5.3m cgt) of the market putting it in third place, behind Japan in second with 29.44% (8.84m cgt) and Korea top with 37.89% (11.38m cgt). European nations Gernamy and Turkey delivered the fourth and fifth most vessels last year, comprising 2.98% and 1.62% of the total market respectively.
With many of China's mega yards slated to come onstream this year, the mainland has a good chance of overhauling Japan on the deliveries front in 2008. [03/01/08]
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