China Set to Sieve Shipbuilding Industry

MarineLink.com
Monday, August 12, 2013

China grew into the world’s leading shipbuilder over the last decade as hundreds of private yards opened to compete with state-run companies. Now, the government is poised to regain control as the industry heads for consolidation, reports Bloomberg.

The number of shipyards in China has swollen to 1,647, contributing to a global capacity glut. To stabilize the industry, one third to a half of the yards will probably have to disappear through acquisitions and closings, according Bloomberg, citing industry executives and analysts.

State-run companies are at an advantage because they have easier access to credit to pay workers, buy raw materials and provide financing for clients.

Source: Bloomberg

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