Guangzhou Shipyard sees profit up 6-fold

Guangzhou Shipyard International Co. Ltd. said on Tuesday it expected its third-quarter profit to surge 6-fold from a year earlier thanks to higher efficiency and improved margins.

Major shipyards around the world are full until 2009 to 2010 due to capacity constraints and increasing demand to meet rising seaborne transport on the back of strong global economic growth, analysts said.