January 16, 2025 04:40 GMT
MNI BRIEF: China Shipbuilding Up 13.8% In 2024
MNI (BEIJING) - China produced 48.2 million deadweight tonnes of shipping vessels last year, up 13.8% y/y, said the Ministry of Industry and Technology on Thursday.
New orders totalled 113.05 million deadweight tonnes in 2024, an increase of 58.8% y/y, while backlog orders at the end of December reached 208.72 million deadweight tonnes, up 49.7% y/y.
China’s steel demand is anticipated to fall in 2025 to under 100 million tonnes, as fiscal stimulus targets consumption and the real-estate market continues to decline, local analysts recently told MNI. (See MNI: China Steel Demand Seen Falling Next Year)
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