Shanghai Waigaoqiao Shipyard (SWS) sold the first of its new line of cargo vessels with the world's largest tonnage to a Belgian shipping company on Tuesday.
SWS signed the contract for four 177,000-ton Capesize vessels in Shanghai with BOCIMAR, a shipping company affiliated to Belgium's CMB Group.
"We are deeply impressed with the work of SWS and I believe our friendship and cooperation will last for a long time," said BOCIMAR Chairman Mark Saverys.
Belgium's Crown Prince Philippe and Princess Mathilde attended the naming ceremony of the fourth cargo ship the same day. They are in Shanghai to celebrate the 20th anniversary of its twinning with Antwerp.
SWS's new vessel has attracted wide interest as experts believe it will be the backbone of the future shipping market, which is demanding an increasingly large capacity.
The prince brought a 500-member delegation with him to China, consisting of representatives from the financial sector, ports and airports, universities, industrial and service companies and government officials.
In a meeting with Shanghai Mayor Han Zheng, he said the rapidly growing Chinese market is of great significance to Belgium.
In the first nine months of this year, China-Belgium trade hit US$6.6 billion, up 36 percent on the previous year.
Prince Philippe had addressed the opening ceremony of a series of seminars in Beijing on Monday, vowing to further commercial cooperation, especially between small enterprises.
As the location of much of the EU's headquarters, Belgium offers geographic advantages and hopes to see more Chinese companies going there for investment.
The number of Belgian-backed projects in China reached nearly 500 by September this year, with a contractual investment of US$1.16 billion, according to Vice Minister of Commerce Zhang Zhigang.
China has become Belgium's second largest trade partner and import source, as well as fourth largest export market besides EU members. The two countries' annual trade volume has surged by a factor of 300 since diplomatic ties were forged in 1971.
(China Daily, Xinhua News Agency November 24, 2004)
