The Chinese shipbuilding sector's output grew 46% year over year to about 15.7 million deadweight tonnes in the first quarter, Xinhua News Agency reported Saturday, citing the Ministry of Industry and Information Technology.
The figure comprised 57% of the global total, the report said.
New orders soared 195% to 59.5 million DWT, equivalent to about 85% of the global market share.
Holding orders increased 44% to 322.3 million DWT, equivalent to about 70% of the worldwide total.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.