Chinese yards shut down one after the other

140 yards have shut down since 2010 in the world's second largest shipbuilding nation - and this development is expected to continue as a result of reforms in the Chinese economy and dark days for the dry bulk segment.

Photo: Stena Bulk

The dry bulk crisis and China's transition from a manufacturing economy to a service economy are listed as explanations for the country shutting down up to 140 yards in recent years, reports Bloomberg News.

On the one hand, there is the decline in commodity imports to China. The sliding demand for iron ore, for instance, makes its mark on the demand for dry bulk vessels, which have been China's largest export hit.

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