China Plans to Retain 40% of Shipbuilding Market

According to a report from People’s Daily Online, China plans to maintain its current global market share of 40% in the shipbuilding industry during the next five years, further consolidating its dominant position in the field, said Zhang Guangqin, head of the China Association of the National Shipbuilding Industry. According to industry estimates for the near future, the production capacity of the global shipbuilding industry may expand by 200 million deadweight tons every year, but demand will remain at 156 million deadweight tons, with nearly a quarter oversupplied.