The new orders in the first quarter of this year hit the ever best level. But experts remind that the year 2010 is likely to be a flex point of China ship industry.

In the first quarter of this year, the new orders for ship are 12,430,000DWT, which increases by 67% compared with the corresponding period of last year. Among these new orders, the bulk vessels for carriage of iron ore and coal amount to 8,960,000DWT, which is 6 times what it was in the corresponding period of last year. In the year 2006, the ship enterprises of national scale or above achieved a gross profit of 9.6 billions, which is higher than that of the whole 10^th Five-Year. In the first three months of this year, the entire industry created a profit of 1.9 billions, which increased by 144% compared with the same period of last year.

Nie Lijuan, the vice secretary-general of China Ship Industry Association said, “The predominant characteristic in the first quarter is that the number of new orders appeared a sharp rise. Moreover, it is the first time that the orders exceed that of Japan and Korea. At the same time, it achieved our ever best level.

Experts pointed out that the China shipbuilding industry has entered into a booming period at the present time. The Enterprise Annals showed that, the orders of many shipyards have been scheduled to the year 2010. But 83% of the orders in hand are vessels for exportation and most part of them are long term contracts accounted in dollars. Therefore, when most of the contracts expire by the year 2010, it will be a test for the China ship industry. 

Nie Lijuan, the vice secretary-general of China Ship Industry Association said, “The shipbuilding market fluctuates periodically, the high always being accompanied with the low. The present peak is possibly to keep to the year 2009 or 2010. But the reduction will be a test for the shipbuilding industry of both China and the world. 

The new orders in the first quarter of this year hit the ever best level. But experts remind that the year 2010 is likely to be a flex point of China ship industry.

In the first quarter of this year, the new orders for ship are 12,430,000DWT, which increases by 67% compared with the corresponding period of last year. Among these new orders, the bulk vessels for carriage of iron ore and coal amount to 8,960,000DWT, which is 6 times what it was in the corresponding period of last year. In the year 2006, the ship enterprises of national scale or above achieved a gross profit of 9.6 billions, which is higher than that of the whole 10^th Five-Year. In the first three months of this year, the entire industry created a profit of 1.9 billions, which increased by 144% compared with the same period of last year.

Nie Lijuan, the vice secretary-general of China Ship Industry Association said, “The predominant characteristic in the first quarter is that the number of new orders appeared a sharp rise. Moreover, it is the first time that the orders exceed that of Japan and Korea. At the same time, it achieved our ever best level.

Experts pointed out that the China shipbuilding industry has entered into a booming period at the present time. The Enterprise Annals showed that, the orders of many shipyards have been scheduled to the year 2010. But 83% of the orders in hand are vessels for exportation and most part of them are long term contracts accounted in dollars. Therefore, when most of the contracts expire by the year 2010, it will be a test for the China ship industry. 

Nie Lijuan, the vice secretary-general of China Ship Industry Association said, “The shipbuilding market fluctuates periodically, the high always being accompanied with the low. The present peak is possibly to keep to the year 2009 or 2010. But the reduction will be a test for the shipbuilding industry of both China and the world.