New shipbuilding orders at China’s shipyards continued to build up with figures rising in the first nine months of 2014 over the year-ago period, according to data from the ministry of industry and information technology.

From January to September this year, Chinese shipyards landed new shipbuilding orders with a total tonnage of 52.49m dwt, a jump of 37.9% compared to the same period of 2013.

The existing shipyard orderbook in the nine-month period ended 30 September 2014 stood at 154.71m dwt, an increase of 35.7% year-on-year and up 18.1% compared to the end of 2013.

In completed shipbuilding jobs, Chinese yards produced 26.06m dwt in capacity of vessel tonnage, down 14.9% compared to the previous corresponding period, the ministry data showed.

In the first three quarters of this year, Chinese shipbuilders accounted for 53.2% in global market share for newbuilding orders, 47.6% in global share for existing orderbook, and 38.3% for completed vessel tonnage.

Meanwhile, 87 main yards monitored by China Association of the National Shipbuilding Industry (Cansi) generated a combined revenue of RMB213.3bn ($34.7bn) in the first nine months of this year, representing an increase of 13.5% year-on-year.

Net profit, however, fell 11.5% year-on-year to RMB3.8bn due mainly to low newbuilding prices and rising operating costs.