China makes strong recovery in shipbuilding
China recorded a 94.9% year-on-year surge in completed shipbuilding volume to 18.6 million dwt in the first four months of the year, according to the Ministry of Industry and Information Technology (MIIT). New orders in the first four months increased 12 times to 12.77 million dwt.
The volume of shipbuilding orders in hand as of end April fell 1.9% from end 2009 to 184.58 million dwt. In the areas of completed shipbuilding volume, new contract orders and orders in-hand, China had a global market share of 39.1%, 47.2% and 37.8% respectively.
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