Rough Seas Ahead for Shipyards

According to a report from China Daily, Chinese shipbuilders have taken a bigger hit than their foreign competitors from the global economic downturn, and the outlook is even gloomier for the next two years. In the first 11 months of 2008, Chinese shipyards reported a 44 percent drop in new orders, compared to the world average of a 37 percent decline, according to Clarkson Research Studies.

(Source: China Daily)