China still leads world in shipbuilding

China still holds the lead in the global shipbuilding industry, with the most completed orders, newly received orders and ongoing orders, an official said on Tuesday.

Chinese shipbuilders completed orders totaling 34.8 million deadweight tons from January to October, accounting for 37.8 percent of the world's total, said Su Bo, Vice-Minister of the Industry and Information Technology.

Newly received orders amounted to 46.44 million DWT, 46.4 percent of the global market share, and ongoing orders totaled 118 million DWT, 45.4 percent of the industry's share.

Su said the maritime engineering equipment industry is developing at a faster pace.

Chinese maritime engineering companies received about $12.8 billion worth of new orders from January to October, 26 percent of the world's total. China had just 13 percent of the global market share in 2012, Su added.