China Shipbuilders Woeful, Many Face Uncertain Future

China Daily
Monday, November 12, 2012

Many Chinese shipbuilders flounder in the face of a declining world shipping slowdown according to the latest industry reports.

Production at Chinese yards, the world's biggest shipbuilders by tonnage, declined steeply during the first three quarters of the year, reports 'China Daily'.

During the period, finished capacity dropped by 18.5 percent from last year to 41.58 million deadweight tons, and new orders decreased by 46.9 percent year-on-year to 15.41 million deadweight tons, according to the latest data recently released by the Ministry of Industry and Information Technology.

In the meantime, Chinese yards' order book stood at 121 million deadweight tons by the end of September, down 19.4 percent from the amount at the end of 2011.

Industry analysts blamed the industry woes on a glut of vessels, rising oil and other costs as well as uncertainties in world economic growth caused by Europe's debt troubles and China's economic slowdown.

Tan Zuojun, former general manager of the China State Shipbuilding Corp, another large State-owned shipbuilder, estimated that at least half of China's more than 3,400 shipyards will go bankrupt within the next three years.

Some industry analysts were alos pessimistic about China's shipbuilding industry prospects, saying that only 300 of the biggest yards in the country will still be operating when the market starts to improve.

Source: China Daily

 

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

Shipbuilding

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Production Begins on Sovcomflot’s New MPSV

Arctech Helsinki Shipyard started production of the new icebreaking multipurpose supply vessel   The production of the icebreaking multipurpose supply vessel

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.2806 sec (4 req/sec)