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Article: China : For 1st time, China bests Korea in shipbuilding.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sanjayV03
China s rapidly growing shipyard industry beat Korean shipbuilders for the first time this month, as Chinese companies won a flurry of deals to produce low-priced bulk ships.
Experts warned that now is the time for Korean shipbuilders to shift their focus to more high-end premium vessels in order to survive competition from Chinese companies.
According to Clarkson Research Service, an international shipbuilding industry researcher, as of yesterday Chinese shipbuilders posted an order backlog volume of 54.96 million compensated gross tonnage (CGT), an indicator of the work needed to build a given ship based on the type and size ...