Chinese shipbuilding orders fell in 2011

chinayardXinhua reports that the Chinese shipbuilding industry suffered sharp declines in new orders in 2011,citing data from released Monday by China's National Development and Reform Commission (NDRC.

New shipbuilding orders from January to November last year fell 47.3 percent year-on-year to 33.69 million dwt, according to  the NDRC, and have been lower than the completed shipbuilding volume for 11 straight months .

The NDRC data showed output of ships built in China in the first 11 months of 2011 increased by  8.8 percent year-on-year to 61.77 million DWT.  But the industry's order backlog fell 17.4 percent year-on-year to 162.7 million dwt by the end of November last year.

January 3, 2011

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