Chinese shipbuilding companies have seen a surge in orders for the first four months of this year, with new orders standing at 11.57m dwt, an increase 57% year-on-year, according to the statistics released by the China Association of the Naional Shipbuilding Industry (CANSI).
"New orders increased compared with last year, it is still too early to conclude that the shipping industry is well on track for sustained recovery," Nie Lijuan, deputy secretary-general of CANSI told local media.
However, the total profit of China's 80 major shipbuilders stood at RMB2.1bn for the same period, down 56.7% from the previous year.