China's shipyards are extending their global lead, with rising orders and growing exports of high value-added vessels highlighting the industry's continued shift up the value chain, according to figures released Wednesday by the Ministry of Natural Resources.
New orders for seagoing vessels climbed 98.5 percent in the first three quarters from a year earlier, completed tonnage rose 35 percent and the order backlog grew 41.9 percent, keeping China's share of the global market in the first place.
"The export mix for seagoing vessels has kept improving. Export value rose 25 percent year on year, and exports of high value-added vessel types more than doubled," said Meng Qinglei, deputy director of the Department of Marine Strategic Planning and Economics at the Ministry of Natural Resources.
Container throughput at coastal ports rose 4.7 percent year on year from January to September, while cargo throughput was up 1.6 percent year on year.
A land-sea tourism belt linking northeast China with Shandong Province was established during the period, and new sea routes have begun operating.
Cruise ports nationwide handled nearly 1.7 million passenger trips from January to September, according to data.
All of this sits against a backdrop of steady growth in the marine economy. Gross ocean product reached 8.5 trillion yuan (some 1.266 U.S. dollars) in the first three quarters, up 4.9 percent year on year, according to preliminary data.
China's shipbuilding sector extends global lead as exports climb
