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Subcontractors should be careful with Chinese shipyards

The financial situation for the Chinese shipyards is under so much pressure right now that perhaps more than one third of the yards could be left abandoned by 2013, according to a new report. So Danish subcontractors should be very careful.

Photo: Hempel

The acute crisis in the Chinese shipyard industry means that Danish companies should take every precaution before entering into agreements and signing contracts with a Chinese shipyard.

“With a 50 percent decline in orders, a new report estimates that 36 percent of the Chinese shipyard capacity could be left abandoned by 2013. The Chinese shipyards still make up the second largest shipyard market globally, but it is crucial that Danish companies identify the most viable shipyards,” writes Danish Marine Group (DMG) in a press release.

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