SINGAPORE—The gross output of China marine sector reached RMB 1.13 trillion in the first half of 2007, up 13.5 percent compared with that of the same period of last year, and it accounted for 10.62 percent of the total GDP figure, said in the semiyearly report by the State Oceanic Administration on Tuesday.

The marine industry realized RMB 684 billion value-added output, and the marine-related industry achieved RMB 450 million value-added output. In terms of industries, the primary industry realized RMB 63.6 billion in added value, secondary industry RMB 536 billion and tertiary industry RMB 537 billion.

The first six months saw rapid growth in offshore oil and gas production, which grew by 33.2 percent to RMB 57.4 billion in added value. Fast growth is also observed in oceanic energy development. Marine power production realized RMB 973 million output, up 26.8 percent. The first marine wind power plant near Shanghai started construction during this period, with designed capacity of 100, 000 kW.

Meanwhile, China also gained great achievement in sea water treatment and procession. Value-added output of RMB 316 million was reached in this sector.

It is estimated by the Administration that the output in marine sector will amount to RMB 5.75 trillion in the 11th 5-year plan period (2006-2010). (Bloomberg)

Probe cuts Hyundai shares

SEOUL—Hyundai Merchant Marine Co., South Korea’s second-largest shipping line, fell by the most in almost a month in Seoul following a report that South Korea’s financial watchdog is probing allegations of stock manipulation.

SEOUL—STX Pan Ocean Co., South Korea’s largest carrier of commodities, may raise 590.1 billion won ($630 million) in the biggest stock sale by a dry-bulk operator, two people familiar with the matter said.

SINGAPORE—The gross output of China marine sector reached RMB 1.13 trillion in the first half of 2007, up 13.5 percent compared with that of the same period of last year, and it accounted for 10.62 percent of the total GDP figure, said in the semiyearly report by the State Oceanic Administration on Tuesday.

LONDON—Goldenport Holdings Inc., the first Greek shipowner to list shares on the London Stock Exchange, said first-half profit climbed 49 percent on higher demand for commodity carriers. Its stock rose to a record.