China: Shipbuilding volume rises 3% y-o-y

China’s shipbuilding completion volume will be 39.703 million deadweight tonnes (DWT) in 2021, a year-on-year rise of 3%, data from the country’s Ministry of Industry and Information Technology (MIIT) reveals. New orders will be around 67.068 million DWT, up sharply by 131.8% y-o-y. In 2021, China’s shipbuilding completion, new orders, and hand-held orders will account for 47.2%, 53.8%, and 47.6% of the global total in DWT.