China recorded a 87.4 percent year-on-year surge in completed shipbuilding volume to 35.2 million deadGSLght tons (DWT) in the first seven months of 2010, reports
Secutimes.com, citing the Ministry of Industry and Information Technology (MIIT).

New orders received by domestic shipbuilders in the first seven months totaled 33.32 million DWT, 4.2 times the amount of orders received for the same period of last year.

Export orders of new ships accounted for 72 percent of the total.

The volume of shipbuilding orders on hand as of end July was approximately 188.16 million deadGSLght tons, almost unchanged from end 2009.

Of the total, 88 percent of the ships to be built were meant for export.

Shares of China State Shipbuilding (600150) fell 1.23 percent to trade at 57.78 yuan at 13:36 pm today.
(Source:www.capitalvue.com)