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MNI INTERVIEW: China Shipbuilding Growth Sustainable After Jump

MNI (BEIJING)
MNI (Beijing)

Organic growth for LNG vessels has driven China's shipbuilding industry, with recent growth set to be maintained in future, a mainland shipping expert tells MNI.

China’s long-term trade prospects, increased international competitiveness, and push into liquified natural gas vessels will help drive further sustainable growth in the country’s shipbuilding industry following a 95.4% y/y production increase over January and February and 31.3% y/y expansion to the total order book, an expert told MNI.

Improved competitiveness and diversified development of China’s shipbuilding industry drove the output improvement, said Xu Kai, chief information officer at the Shanghai International Shipping Institute. "Demand for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and specialised transport ships have all increased," Xu said, stressing overcapacity was not an issue.

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China’s long-term trade prospects, increased international competitiveness, and push into liquified natural gas vessels will help drive further sustainable growth in the country’s shipbuilding industry following a 95.4% y/y production increase over January and February and 31.3% y/y expansion to the total order book, an expert told MNI.

Improved competitiveness and diversified development of China’s shipbuilding industry drove the output improvement, said Xu Kai, chief information officer at the Shanghai International Shipping Institute. "Demand for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and specialised transport ships have all increased," Xu said, stressing overcapacity was not an issue.

Keep reading...Show less