China is making serious waves in the shipbuilding world! 🌊 In the first half of this year, the Chinese mainland's shipbuilding industry soared to new heights, strengthening its position as a global leader. According to the Ministry of Industry and Information Technology (MIIT), China's shipyards are busier than ever, and here's why.
From January to June, China completed shipbuilding projects totaling a whopping 25.02 million deadweight tonnes (DWT). That's an 18.4% jump compared to the same period last year! 📈 But that's not all—new orders surged to 54.22 million DWT, marking an incredible 43.9% year-on-year growth. Talk about making a splash!
By the end of June, China's order book was brimming with 171.55 million DWT, up 38.6% from the previous year. This means ships upon ships are set to be built, keeping the industry afloat and thriving.
But what does this mean on the global stage? Well, China isn't just participating—it's dominating! 🌟 In the first half of this year, the Chinese mainland's shipbuilding completions, new orders, and order book accounted for 55%, 74.7%, and 58.9% of the global totals, respectively. That's more than half of the world's shipbuilding action happening right in China.
Cao Bo, deputy director of the statistical information department of the China Association of the National Shipbuilding Industry (CANSI), believes that despite global economic uncertainties and challenges like trade protectionism, China's economy is sailing smoothly. \"In June this year, as the shipbuilding industry continued to recover, the new ship price index climbed to 187.23, an increase of 9.5% year on year, reaching its highest level since September 2008,\" Cao noted.
Young entrepreneurs and business enthusiasts, take note! 🚀 The booming shipbuilding industry signals robust economic activity and opportunities. The main business income of China's large-scale shipbuilding enterprises increased by 31.5% year on year in the first quarter of this year, according to CANSI's statistics.
But it's not just about building ships; it's about moving goods and fostering global trade. The shipping industry is a critical pillar of global economic development and serves as a barometer of China's macroeconomic health. This year, several of China's ports have shown continuous growth in throughput, indicating strong trade activity.
For instance, from January to June, Ningbo-Zhoushan Port—the world's busiest port in terms of cargo throughput—handled 708 million tonnes of cargo, a 4.2% increase year on year, and 19.17 million twenty-foot equivalent units (TEUs) of containers, up by 8.4%. 🚢 Guangzhou Port also made waves, processing an estimated 12.21 million TEUs, representing a 6.3% growth.
According to Wu Chungeng, chief planner with the Ministry of Transport, \"Maritime transport handles about 95% of China's foreign trade cargo. China's international shipping volume now accounts for nearly one-third of the global total, further highlighting its role as a ballast in international shipping.\" 🌐
So, what's the takeaway? China's shipbuilding industry isn't just staying afloat—it's cruising ahead at full speed! With resilience and growth in maritime trade, the Chinese mainland continues to anchor its position as a global shipping powerhouse. Whether you're a business professional looking for opportunities or a student exploring international trade trends, keep an eye on China's maritime journey. It's a ship you don't want to miss! ⚓
Reference(s):
China's shipbuilding industry soars in H1, solidifies leading position
cgtn.com
