Wärtsilä to bet on engine sales for Chinese vessels
An engine factory will strengthen and upscale Wärtsilä's position as supplier of engines for the Chinese shipbuilding industry. In spite of the yards being under pressure, the supplier eyes a big market for, in particular, vessels for Chinese companies, says James Han, managing director of Wärtsilä China, to ShippingWatch.
The orderbooks are getting smaller and smaller, the shipyards are announcing large-scale layoffs in shipbuilding nations such as China, Japan, and especially South Korea, where the shipbuilding sector is in the midst of a crisis, and the market for newbuildings overall has slowed down significantly.
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