China Shipbuilding Industry on Downward Slide

China’s first half 2012 shipyard figures make grim reading & the national shipbuilding association warns little chance of help from Beijing.

In the first half, newly received order volume in China were 10.74m tons, sharply down 50.3% year-on-year.

Till the end of June 2012, orders on hand stood at 125.87m tons, a decrease of 30.7% year-on year.

The equipment division of the Ministry of Industry and Information estimated many yards may will run out of work during the second half of 2012.

“The shipbuilding industry is getting worse. Beijing has not released any new specific supporting measures for the industry yet,” an official from the national shipbuilding association told 'SinoShip News'.

Despite fevered speculation Beijing has yet to announce any stimulus measures to combat a slowdown in the economy.