China's shipbuilders to reap RMB 40 bln in profit in 2010

The China Association of the National Shipbuilding Industry or CANSI announced today that the output value of shipbuilding enterprises above designated size in China is expected to total RMB 670 billion this year, and they will reap over RMB 40 billion in net profit.
China's shipbuilders completed shipbuilding orders for 61 million dead weight tons and received new orders totaling 68 million dead weight tons this year, with total shipbuilding orders reaching 200 million deal weight tons.
In the first eleven months of this year, the output value of shipbuilding enterprises above designated size surged 25% year on year to RMB 611.5 billion. The growth rate was 4.2 percentage points lower than that in the same period of last year. Their export volume increased 17.2% year on year to RMB 264.4 billion, according to CANSI.
China's 83 key shipbuilding enterprises saw their output value surge 16% year on year to RMB 363.89 billion in the period from January to November and gross profit amount RMB 27.31 billion, 21.2% more than in the same period of last year. Revenue from core businesses was RMB 270.78 billion, up 16.4% from a year earlier.
Source: China Knowledge