At the second China International Petroleum Equipment Procurement International Summit held recently, Zhao Zehua, director of the China National Shipbuilding Industry Development Research Center under China Shipbuilding Industry Corporation, disclosed that in 2011, the world’s marine engineering equipment market reached US$69 billion in orders, setting a record high , a year-on-year increase of 130%; this is also the first time that orders for marine equipment exceeded the amount of orders for new ships during the same period, becoming the main source of new orders for the world's shipbuilding industry. Zhao Zehua said that as of March 15, the amount of orders for the global marine equipment manufacturing market this year has reached 13.384 billion US dollars.
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