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Chinese yard enters world's Top 10

Chinese yard enters world's Top 10

Shanghai: Shanghai Waigaoqiao Shipbuilding (SWS) recorded 3.1m dwt output for 2006, which it claims makes it the eighth largest shipbuilder in the world, the first time a Chinese shipbuilder has broken into the top 10. The yard, which declared a record profit of 1bn yuan ($128m) in 2006, is also the first Chinese shipbuilder to break through the 3m dwt ceiling. "It is a milestone in the history of China's shipbuilding industry," SWS chairman Wu Di said during a ceremony to mark the occasion. SWS currently boasts a backlog of 80 vessels worth approximately $5bn due for delivery by 2010.  [05/01/07]

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