China’s shipbuilding industry takes a page from Denmark’s book amidst global push to reduce CO2 emissions

Tan Naifen, deputy secretary-general of CANSI, said the growing shipping demand and rising freight rates have significantly bolstered both revenue and profit growth of global shipping and energy companies, such as Denmark’s Maersk Line, France’s CMA CGM SA and QatarEnergy, formerly known as Qatar Petroleum, over the past two years.

China’s own shipbuilding industry will enter a high-growth period this year, driven by the soaring demand of foreign shipowners, and their moves to adopt new vessels with green and high-efficiency engines to meet international demand for lower carbon emissions, said industry officials and shipbuilders.

He Minghui, assistant president of Jingjiang, Jiangsu province-based Yangzijiang Shipbuilding Group, said the company’s holding orders have reached the highest level in nearly two decades, with about 90 percent of orders placed by foreign clients, mainly from Japan, Singapore and a number of European countries.

About Jaqueline Deeon

ScandAsia Journalist • Scandinavian Publishing Co., Ltd. • Thailand

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