From January to March, China"s shipbuilding output reached 15.68 million deadweight tons (DWT), up 46 percent year-on-year and accounting for 57.3 percent of the global total, the data showed.

　　New orders totaled 59.53 million DWT, surging 195.2 percent from a year earlier and representing 84.9 percent of the global market share.

　　As of the end of March, the sector"s orders on hand stood at 322.3 million DWT, up 43.6 percent year-on-year. This accounted for 69.8 percent of the global total.

　　Liu said that amid increasing demand, Chinese shipyards" ability to deliver vessels on time or even ahead of schedule and their speed of completing orders have been greatly attractive to shipowners.

　　The Chinese shipbuilding industry"s integrated supply chain advantage has fueled these strengths. For instance, our company can get all the intermediate goods under some 80 large categories of equipment and accessories needed for building a vessel from Zhejiang Province and nearby provinces. "Overseas shipyards cannot do that, they have to source abroad, incurring delays," Liu said.