Orders for new vessels put China's shipbuilders on robust growth path

China's shipbuilding industry will likely maintain robust growth this year, driven by soaring demand for dual fuel-powered containerships, oil tankers and specialized vessels, market watchers and business executives said on Monday.

In the first five months of this year, orders for new vessels placed with the country's shipyards surged 49.5 percent year-on-year, data from the Beijing-based China Association of the National Shipbuilding Industry showed.

Orders for new vessels, a major indicator of health of the shipbuilding industry, added up to 26.45 million dead-weight tons during the five-month period, with a global market share of more than 67 percent.