China Ranked 3rd with 12 Million DWT in 2005

China’s shipbuilding capacities have reached 12 million dead weight tonnages (DWT) in 2005, up 36 percent year-on-year, to be ranked third largest worldwide, according to the Commission of Science Technology and Industry for National Defense, as reported by www.chinaknowledge.com. The commission said China received record high shipbuilding orders of 15 million DWT last year. The sales revenue of all the country’s shipbuilding companies reached a total of about $12 billion with an industry profit of more than $371.6 million and a ship export value of more than $4 billion. China State Shipbuilding Corporation and China Shipbuilding Industry Corp., one of the country’s biggest conglomerates in the industry, built 5 million and 3 million DWT of ships respectively in 2005. (Source: www.chinaknowledge.com)