China leads the world in 2007 ship orders

Shanghai: As of the end of December 2007, Chinese shipbuilding enterprises' shipbuilding orders-in-hand had totaled 158.89 million dwt, rising by 131% year-on-year, according to statistics released by the Shipping Industry Administrative Office of the Commission of Science, Technology and Industry for National Defense.

China accounted for 33% of the world's total shipbuilding orders-in-hand in the year, based on data on the world's total shipbuilding volume released by China and UK's Clarkson Research Studies.

The nation's bid to be the leading shipbuilder by 2015 looks well on track and has Korean counterparts on edge.  [04/02/08]