November 21, 2008

Oldest shipbuilder in China makes way for Shanghai Expo 2010

Xinhua reported that China's oldest shipbuilder, the Jiangnan Shipyard Corp completed the move to a new home to make room for World Expo 2010.

The report said that work on the CNY 16 billion new shipyards started in 2005. It is the first phase of the Changxing base and has a production capacity of 4.5 million DWT with a 3.8 kilometer coastline, four docks and three production lines.

Mr Guo Xiwen China State Shipbuilding Corp chief economist told Xinhua that work on the second phase, with a 3.5 million DWT capacity is to start in 2009 and finish in about 2012.

China is the world's third largest shipbuilder after the Republic of Korea and Japan. It accounted for 23% of the world market with a production capacity of 19 million DWT in 2007.