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China's shipbuilding industry slows production but new orders rise in Q1

Xinhua News,BEIJING
2020-04-20 10:44

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BEIJING, April 20 (Xinhua) -- China's shipbuilding industry slowed its production during the first quarter partly due to the novel coronavirus epidemic, but new orders grew, according to government data.

The industry completed ships with a tonnage of around 7 million deadweight from January to March, down 27.3 percent year on year, data from the Ministry of Industry and Information Technology showed.

The country's shipbuilders received new orders totaling 4.89 million deadweight tonnes during the period, up 6.5 percent from a year earlier.

At the end of last month, China's shipbuilding sector had orders amounting to 79.55 million deadweight tonnes, down 5.6 percent year on year.

China has the world's leading shipbuilding industry, accounting for 30.4 percent of the ship tonnage completed by the global shipbuilding industry and making up 65.5 percent of the world's total new orders during the first quarter, data showed.
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