Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (4545)	3/13/2005 12:31:19 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

[The gross profit is only around 10% in shipbuilding now. Net perhaps half of that]--"China to become world's largest shipbuilder: " [World News]: Beijing, March 13 : Growing demand from the international market will soon turn China into the world's largest shipbuilding nation, Xinhua reports. China, which has been the world's third largest shipbuilder for years, is "very likely" to rank first in the near future if it maintains the growing momentum, said He Rongguang, president of the Bohai Shipbuilding Heavy Industrial Co. Ltd. The country should now aim to build more ships in the years ahead, to cope with a growing demand from the international market, He said. China presently builds about 15 percent of the world's total tonnage of ships and holds 17 percent of all the global orders. According to He, "a booming shipbuilding industry will boost China's overall manufacturing industry, particularly the production of iron and steel, electronic and mechanical products, and will create more jobs". China's shipbuilding industry faces a golden opportunity for expansion since a growing number of international investors are eying China as a developing nation with an ideal manufacturing base. "Meanwhile, the sustained growth of the national economy has created a sound environment for the industry to prosper." His views were echoed by Chen Xiaojin, general manager of China State Shipbuilding Corp (CSSC). According to him, recovery of the global economy has brought about a busy international shipping business and rising demands for ships. "This in turn stimulated the development of the world's shipbuilding industry," said Chen, a member of the National Committee of the Chinese People's Political Consultative Conference. Nevertheless, China has to rely on state-of-the-art technologies and innovation to further enhance its shipbuilding capacity, he said. As a leading shipbuilding company in China, CSSC has built 3.57 million tons of new ships in 2004, up by 64.5 percent from the previous year. Of the total tonnage of ships constructed, 73.8 percent have been exported. According to Chen, his company expects to build 4.36 million tons of ships and receive 4 million tons of new orders in 2005. --Indo-Asian News Service newkerala.com