Chinese Shipbuilding Industry Faces Credit Crunch

Monday, July 06, 2009

According to China Daily, the nation’s shipbuilding sector is suffering from a shortage of funds. China's ship builders received 1.18 million deadweight tons (DWT) of new orders in the first five months this year, a decrease of 96 percent year-on-year, according to statistics from the Ministry of Industries and Information Technology (MIIT). Meanwhile, orders of 55 vessels, or 2.32 DWT, were canceled during the same period, about 1.2 percent of the industry's total holding orders as of the end of May, said the ministry. Most domestic banks are lending with caution, even as the country's top economic planner vowed to fund the industry in early June.

 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Scottish Sea Farms Orders Newbuilds

Macduff Shipyards Ltd. has received a contract worth more than £3.3 million pounds from Scottish Sea Farms for the design and build of four 19.8-meter 150T steel

LNG Transport Barge Design Approved by ABS

Conrad Shipyard, L.L.C. engaged Bristol Harbor Group, Inc. (BHGI) to develop a 3,000 cubic meter Liquefied Natural Gas (LNG) transport barge utilizing a Bristol

Airbus May Sell Stake in Submarine Supplier

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die

Finance

Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.

Polynesian Shipping Sold to Neptune Pacific Line

The Board of Polynesian Shipping Line Limited, Apia informed   that the business and the Company’s associated investments have been sold to Neptune Pacific Line Limited.

Airbus May Sell Stake in Submarine Supplier

Airbus is considering a sale of its 49 percent stake in submarine supplier Atlas Elektronik as part of a reshuffle of its military business, German newspaper Die

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1366 sec (7 req/sec)