China Hits 18.9m Tons

China reported its shipbuilding tonnage was up 30% to reach 18.93 million tons in 2007, according to a report from China Knowledge.

The country exported 14.9 million tons of ships in tonnage to 151 countries and regions, up 25.6% year-on-year, and the export value reached $12.24 billion, surging 51.1%, according to the National Development and Reform Commission (NDRC).

China's share in the global shipbuilding market was 23% last year, up 4% over the previous year. During the same time, the country's new shipbuilding orders in tonnage surged 132% to 98.45 million tons, accounting for 42% of the global total. The total orders in tonnage of China were 158.89 million tons at present, accounting for 33% of the global total.