China Shipyards Slash Prices to Survive

Reurters
Wednesday, June 06, 2012

Chinese shipyards offer to sell vessels at discounts of more than 20 percent to compete with Asian rivals

Reuters report that rock bottom freight rates, slowing economic growth and an oversupply of ships have forced maritime firms to cancel or delay hundreds of new orders, leaving yards especially in China with unwanted vessels for sale.

As many as half of China's 1,600 shipbuilding companies are expected to go bankrupt or be acquired by larger rivals in the next two to three years and pressure is growing to move inventory, according to senior Chinese industry executives.



 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

GE Gas Turbines for Japan's New Warship

GE's Marine Solutions announced it will provide IHI, Tokyo, Japan, with two LM2500 aeroderivative marine gas turbines for the Japan Maritime Self Defense Force's (JMSDF) new 8,

US Tests World's Largest Unmanned Sub Hunter

The US military is beginning testing on the world's largest unmanned ship - a self-driving 40-metre vessel designed to travel thousands of kilometres out at sea without a single crew member on board.

Partners Tap Standardization to Trim Newbuild Costs

Unfamiliar specifications and processes often result in rework, delays and misunderstandings, and are adding thousands of engineering hours to the design and construction

Finance

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

Baltic Index Down for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the third straight session, as demand for bigger vessels weakened.

Kongsberg, DNV GL Partner to Reduce Training Costs

Kongsberg Maritime has entered a partnership with class society DNV GL to issue Product Certificates for Maritime Simulator Systems required by maritime training

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | 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: 0.0721 sec (14 req/sec)