According to statistics released by China Association of the National Shipbuilding Industry (CANSI), Chinese shipyards received new orders of 950,000dwt in the first two months of 2016, a sharp decline of 75.1% year-on-year.
China’s 51 leading shipyards secured 900,000dwt, representing 94.7% of the country’s market share.
China’s shipbuilding industry is facing a massive layoff over the next two to three years as part of the country’s efforts to curb overcapacity.
Jin Peng, secretary general of CANSI, told Splash earlier this month that “overcapacity is still one of the major problems in the shipbuilding industry, and the industry is facing a major reshuffle and does need a restructuring.”
Source: Splash 24/7
Source: Splash 24/7