|China's shipbuilding industry's gross output up 5.5% in Jan-May to RMB 163 bln
The gross industrial output of the 88 major shipbuilding enterprises in China saw a growth of 5.50% year on year to RMB 163 billion in the first five months of this year, according to the latest statistics released by the China Association of the National Shipbuilding Industry.
The gross output of the ship manufacturing and ship equipment industry increased 9.2% and 9.6% year on year to RMB 81 billion and RMB 12.5 billion in the five-month period, respectively, while that of the ship repair sector dropped 8.3% year on year to RMB 5.32 billion.
The prime operating income and total profit of the 88 enterprises increased 4.4% and 17.0% year on year to RMB 102 billion and RMB 2.06 billion in the five month period, respectively.
The output of completed ships surged 18.9% year on year to 15.48 million deadweight tons in the Jan-May period while the industry's new orders plunged 77.4% from a year earlier to 7.86 million deadweight tons during the period.
As of the end of May 2015, outstanding ship orders had decreased 8.2% from the previous year to 138.18 million deadweight tons.