New Chinese Shipbuilder Unveiled

A new, bigger shipbuilder was unveiled in Dalian recently, as part of the restructuring of the city's shipbuilding industry, ShanghaiDaily.com reported. Dalian Shipbuilding Industry Co was formed by the merger of Dalian Shipyard Co and Dalian New Shipbuilding Heavy Industry Co. Dalian Shipyard, with more than a 100-year history, used to be one of China's big military shipbuilders. Dalian New Shipbuilding, established 15 years ago, was one of the country's biggest shipbuilders. Both the companies were subsidiaries of China Shipbuilding Industry Corporation. The new shipyard expects to output vessels of 2 million tons next year and more than 2.6 million tons in 2007, according to Xinhua. (Source: ShanghaiDaily.com)