China's shipbuilding market continued to firm in the first half of May, during which time newbuilding prices rose steadily and the orders placed at Chinese shipyards increased as well. The China Newbuilding Price Index (CNPI) was reported at 863 points, an increase of 0.2% since end of April. The accumulative growth in CNPI has exceeded 0.8% since the lowest level, 853 points, at the end of last year. After a sharp drop in the year of 2012, the dry bulk carrier newbuilding market has shown a noticeably upswing since the beginning of 2013 and led the price increases of the overall newbuilding market.
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