China’s shipbuilders continue to lead global race

New container ships under construction at the Qingdao Beihai shipyard in Qingdao, northeast China's Shandong province on April 26, 2012. The global shipping industry, still struggling to recover from the 2009 recession, is worried by overcapacity and the expected growth slowdown in China which has cut its economic growth target to 7.5 percent this year from eight percent in 2011 in anticipation of weaker European and US demand. CHINA OUT AFP PHOTO

BEIJING: China’s shipbuilding industry will continue to lead the global race this year on the back of its supply chain growth, market expansion, and intelligent and green transition over the the coming years, say analysts and industry sources.

The industry has become adept at constructing all types of mainstream vessels, reflecting its versatility and innovative capabilities, they said.