China Fast Becoming the World’s Shipyard

Looks like we might soon be adding another superlative to the Chinese economy’s already swollen list. From AFP:

“Last year, the order books at Chinese shipyards surpassed those of Japan, to be second only to South Korea,” said Li Cheng, assistant general manager of Shipbuilding Industry Co.

The company runs the eighth largest shipyard in the world, and last year delivered 32 vessels totalling three million deadweight tonnes.

In terms of new orders, China was actually number one last year, totalling 98.5 million deadweight tonnes, or 42 percent of the global total, according to the Beijing government.

China still has a ways to go to catch South Korea as the world’s top shipbuilder, according to the article, but it’s within striking distance.

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