CSSC and CSIC have been badly hit by the recession in the newbuilding orders.
An industry insider says both the Chinese state-owned shipyard conglomerates have only managed to bag around 9m dwt of the total 29m dwt of orders placed in China during the first nine months of this year.
The two giants inked around 26.3m dwt last year, he added.
A Shanghai-based broker said, "There is also a possibility that the shipbuilding market may be worse off next year and prices may come under further pressure."
Published : November 25, 2011
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