Shipbuildingmarketinchina.docxVIP

Shipbuilding market about ChinaBefore the financial crisisIn 2008, As the race between the countries intensifies, China, the worlds third largest shipbuilder (behind No 2 Japan and No 1 Korea), has upgraded its ships from conventional crude oil tankers and bulk carriers into high value-added vessels, such as high-speed containerships, liquefied natural gas carriers and very large crude oil carriers.And in terms of shipbuilding orders, Chinese companies have already exceeded South Korea and Japan.China shipbuilders had orders for 14 million CGT Compensated Gross Tons (CGT -ships capacity measure) in January 2008, accounting for 50 percent of the worlds total. South Korea had orders of 600,000 CGT and Japan had 300,000 CGT.In terms of new orders, China was actually No 1 on 2007, totaling 98.5 million deadweight tons and taking a global share of 42 percent, up 12 percentage points from a year earlier and exceeding South Korea.The growth of the Chinese shipbuilding industry was relatively rapid, though for more than ten years, the country has been playing catch-up with Japan and South Korea.China has been the worlds third largest shipbuilder for 12 years. By 1995, Chinese shipbuilders replaced Germany in the third spot with a 5 percent market share in the world.The strong growth has made many observers bullish on Chinas shipbuilding future and they expect it to surpass South Korea to become the global leader.China’s Shipyard in first Half year of 2005 is rapidly growing After the financial crisisChina’s shipbuilding industry ,which had held the title of world champion in building volume for three year (2008-2010) running , Lost its place as the world’s number one shipbuilding country in the first half of this year which its newbuilding order size dropped by 9.2 % from the same period of last yearAccording to the annual report of CANSI as the delayed impact of the financial crisis is beginning to be felt on the ship-building industry, the production and operation of chin