Arab Today, arab today no safe harbor for weak shipyards in china
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

No safe harbor for weak shipyards in China

Arab Today, arab today

Arab Today, arab today No safe harbor for weak shipyards in China

BeijIng - Xinhua

China's shipbuilding sector has stagnated this year, and things won't improve in 2014. The country will continue to lag behind its foreign competitors as prolonged excess capacity continues to crimp industry profits and drive smaller shipyards out. Zhang Guangqin, president of the China Association of the National Shipbuilding Industry, said that heedless expansion of capacity and product lines have severely hurt the industry's health. "Surplus capacity of the world's shipping industry has mounted since the global financial crisis in 2008. The estimated overcapacity of the sector may reach as high as 20 percent this year," Zhang said. "Under the circumstances, it will take at least five years to digest the surplus capacity in China's shipbuilding sector." As the world's largest low-end ship-producing country, China has 1,600 enterprises related to ship construction, half of which are large shipyards. These companies have an annual industrial output of 800 billion yuan ($130.6 billion). A total of 1.5 million people work in the industry, according to the National Development and Reform Commission. "Even though China gained more orders than Japan and South Korea in 2013, new ship prices have kept touching new bottoms in the past two years, and there is no sign of recovery whatsoever," said Yin Zhen, deputy director of the division of transport planning at the Institute of Comprehensive Transportation at the NDRC. China's new ship orders amounted to 46.44 million deadweight tons from January to October, about 46.4 percent of the global market share. Work in progress totaled 118 million DWT, or 45.4 percent of the industry's total, according to the Ministry of Industry and Information Technology. Domestic shipyards, affected by weak design ability and a declining global shipping market, have seen the prices of bulk and container vessels fall by 30 percent or more since 2008.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today no safe harbor for weak shipyards in china Arab Today, arab today no safe harbor for weak shipyards in china

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today no safe harbor for weak shipyards in china Arab Today, arab today no safe harbor for weak shipyards in china

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday