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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

ECSA's new secretary general balances on a razor's edge

ECSA’s newly appointed secretary general, Sotirs Raptis, has taken up the helm of an organization criticized by its own members for being invisible. In an interview with ShippingWatch, Raptis explains how he intends to alter that image.

Further reading

Related articles

Latest news

See all jobs