Wednesday, April 18, 2012

Chinese face "Transformation"



Chinese shipbuilding industry is facing difficulties, as its ship-related indexes all see decreases, particularly new order cut by over 40%, said an official from the China Association of the National Shipbuilding Industry (CANSI).

He forecast that Chinese yards would go into adjustment period in 2012 due to slow recovery of global economy and depressed shipbuilding market.

CITIC Securities of China noted, Chinese yards' overall new order for 2011 stood at 487 vessels, down by 56.44% in numerical terms, year-on-year.

Added that it would be hard to expect increases in global ordering and newbuilding delivery in 2012, as well. Clouds will drift on China for a while.

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