Friday, September 28, 2012

[Ship Building] Chinese may not recover till 2020

[Ship Building] Chinese may not recover till 2020

New ship orders for Chinese shipbuilding industry has decreased by 50 percent year on year so far this year.

Orders on hold in Chinese shipbuilding companies have also decreased by 30 percent year on year.

Domestic banks have been worrying the repaying ability for the industry.

"Some experts expect that the industry can't revive until the year 2020," said a high-ranking official of China Construction Bank.

China Association of the National Shipbuilding Industry encouraged companies to focus on opportunities of domestic fleet building, development of South China Sea and maritime rights protection, to endeavor to get orders of special purpose-dredger, coast guard vessels and other marine engineering equipments.



Published : September 27, 2012


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