Japanese shipbuilders constructed 18.1 million tons worth of vessels in 2006, scuttling the national record set 31 years ago, according to industry data released on Tuesday.
South Korea remained topped the industry list at 18.84 million tons, defending its title for a fifth straight year, said U.K. insurer Lloyd in a release to the Shipbuilders' Association of Japan.
Although China built 7.69 million tons of ships, less than half of South Korea and Japan's tally, the country is emerging as a formidable rival, with plans to double its
shipbuilding capacity toward 2010.
South Korea remained topped the industry list at 18.84 million tons, defending its title for a fifth straight year, said U.K. insurer Lloyd in a release to the Shipbuilders' Association of Japan.
Although China built 7.69 million tons of ships, less than half of South Korea and Japan's tally, the country is emerging as a formidable rival, with plans to double its
shipbuilding capacity toward 2010.