New orders received by Chinese shipyards in the first two months of 2014 rose 259 percent from a year earlier to 18.08 million metric deadweight tons, the Economic Information Daily reported Friday, citing data from the China Association of the National Shipbuilding Industry. Orders on hand reached 144.93 million metric tons at the end of February, up 36.4 percent from a year earlier and up 10.6 percent from end-2013. The combined volume of ships completed in the period fell 27.2 percent to 4.14 million metric tons. The 87 major shipyards under review posted a combined net profit of 480 million yuan (US$77.25 million), up 123.3 percent year on year, the report said.
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