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China’s new ships orders surge on recovering industry


China’s shipbuilders received new vessel orders equivalent to 32.7 million dead weight tons (dwt) over January-May, skyrocketing by 182.6% on year, or almost the same as the 182.1% on-year rise for the first four months, according to the latest data released by the China Association of National Shipbuilding Industry (CANSI) on June 23. However, though the recovering international shipping market helped, the sensational increase was mainly due to the low base number in the corresponding period of last year, Mysteel Global notes.
Among the new ship orders for January-May, approximately 29.3 million dwt were for exports, accounting for 89.5% of the total or up by a huge 174.9% on year, according to CANSI. “The global shipping market has been steadily picking up, with the ocean freight index rising further and new ship orders


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