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Shipyard: Half of China's yards will be gone in 3-5 years

China's second-largest stock listed shipyard group predicts that half of the country's shipyard industry will be gone in 3-5 years.

Photo: Colourbox

Half of the Chinese shipyards will disapepar in the next 3-5 years, says the Chairman of China's second-largest stock listed shipyard group, Yangzijiang Shipbuilding.

“The State Council’s plan will deliver help to big but struggling shipyards, benefit quality shipyards such as ours with cheaper financing and export credit and expedite the demise of incompetent shipyards. In three to five years’ time, 50 percent of China’s shipbuilding capacity will die of order hunger and 30 percent will survive but hobble, leaving 20 percent in healthy shape," said Ren Yuanlin at a press briefing in Singapore on Wednesday.

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