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Chinese shipyards fighting to survive

The city of Taizhou is one of China's leading shipyard hubs. But the crisis threatens to destroy virtually all the shipyards in the region, according to SinoShip News.

Photo: Erria

The future for the shipyards in China's largest shipbuilding city, Taizhou, is not looking good. A majority of the yards are balancing on the brink, says the local association of shipbuilders according to SinoShip News.

The association says that the crisis means that 80 percent of the yards probably won't survive. During the boom there were around 190 shipyards in Taizhou, a majority of them privately owned. As a result, the government's new initiative to save the country's major shipbuilding industry doesn't help these companies, as private companies aren't included in the plan.

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