Marine Link
Friday, December 9, 2016

Greek Shipowner Doubts Major China Shipbuilder Can Deliver

December 6, 2013

Rongsheng Shipyard: Rendering credit Rongsheng

Rongsheng Shipyard: Rendering credit Rongsheng

China Rongsheng Heavy Industries Group, the country’s largest private shipbuilder, expects to report a substantial full-year loss just months after it appealed to the government for financial help, reports Reuters.

Analysts have indicated that the company could be the biggest casualty of a local shipbuilding industry suffering from overcapacity and shrinking orders amid a global shipping downturn.

Greek shipowner DryShips Inc. which has four dry-bulk carriers on order at the company’s shipbuilding subsidiary, Jiangsu Rongsheng Heavy Industries, has already questioned whether some of the ships on order at China Rongsheng will be delivered, which could hit its revenue and profitability next year, reports Reuters, citing Ziad Nakhleh, DryShips chief financial officer.

Source: Reuters

 



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News