China’s new ship orders remain robust in H1

New ship orders received by China, the world’s largest shipbuilder, more than trebled in the first half of 2014 compared with year-earlier levels.

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The country secured 40.80 million deadweight tonnes (dwt) of new ship orders in January-June, up 78.2% year-on-year, according to a release by Ministry of Industry and Information Technology of China recently.

China’s new ship orders in the first half of 2014 accounted for more than half of global new ship orders during the period.

Completed ships delivered during the period slipped 15.4% on the year to 17.43 million dwt.

The order backlog in Chinese shipyards stood at 152.06 million dwt by the end of June, up 39.5% on an annual basis, and up 16.1% from the end of 2013.