China: China leads global shipbuilding industry with strong Q1 performance.

Storyline China leads global shipbuilding industry with strong Q1 performance New data from China's Ministry of Industry and Information Technology shows the country's shipbuilding industry sustained steady growth in Q1 this year. From January to March China completed 15.68 million deadweight tons of shipbuilding, 46 percent more than last year. Export ships made up 96 percent of deliveries, while new orders surged more than 195 percent to just under 60 million DWT. Li Yanqing, vice president, China Association of National Shipbuilding Industry: "Our output, new orders, and orderbooks all saw clear gains [in the first quarter]. Compared to a year ago, new orders surged dramatically, showing the stability and strength of China's development." In the first quarter, China's shipbuilding output, new orders, and orderbooks accounted for more than 57 percent, 84 percent, and 69 percent of the world market, respectively. In 15 of 18 major vessel types, China led the world in new order volume. With respect to high-capacity vessels, China has secured over 90 percent of international orders for very large crude carriers, large vehicle carriers, bulk carriers, and container ships exceeding 10,000 TEUs. [Restrictions: No access Chinese mainland]