China's shipbuilding industry posted drops in completions and newbuilding orders, and a substantial increase in orderbook in 2014, a domestic news report said, citing a development report of the industry released by China Association of the National Shipbuilding Industry (CANSI).

The nation's shipbuilding completions reached 39.05 million dwt, falling 13.9 percent year-on-year (YoY).

The nation's newbuilding orders last year came in at 59.95 million dwt, declining 14.2 percent from a year earlier.

In addition, the Chinese shipbuilding industry saw its orderbook surge 13.7 percent YoY to 148.9 million dwt.