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Tap into China’s booming maritime industry

Nov 29, 2007 Shipping


China’s shipbuilding industry is growing at an astonishing rate in 2006, with completed shipbuilding contracts accounting to 14.52 million dwt (19% of the global market share). New shipbuilding orders exceeding 42.51 million dwt, accounted for 32% of the global market share, propelling China to second-place in value of shipbuilding contracts. Existing shipbuilding contracts amount to 68.72 million dwt which accounts to 24% of the total global market share.

Contributing to 40% of China’s GDP, the Pan Pearl River Delta and its economic development plays an important and strategic role in China.

Guangzhou city is the central city of the Pearl River Delta region, encompassing Hong Kong, Macau and Guangdong province. The Pearl River Delta region is one of the most important manufacturing centres in the world and is one of China’s main export trade centres. In a bid to expand business activities in China, several international shipping and shipbuilding enterprises have chosen to operate from Guangzhou; and the Pearl River Delta region is on of the most developed maritime locations in the world.

Guangzhou port is now the 5th largest port in the world and the 3rd largest in China, in terms of cargo volume

Guangzhou port has earmarked US$3.5billion for port construction investment during the 2006-2010 period

By 2015, the shipbuilding capacity of south-east China, including Guangzhou, is expected to reach 8 million dwt

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Source: Transportweekly

 
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