Chinese shipbuilding industry, less competitive in high-value ship sector, is likely to face restructuring.
During a international forum regarding global shipping market in 2012, Kim Wu-Ho from Korea Maritime Institute (KMI) explained, "China would inevitably come up with a restructuring program, having $27.9bn of newbuilding delivery during January-August period, less than South Korea's $33.7bn. In terms of deadweight, however, China delivered 42.2m dwt while Korean shipbuilders made delivery of 34.4m dwt."
Kim added that Chinese yards are scheduled to deliver 55.1m-dwt in 2013, however, only 23.3m-dwt newbuilding is booked with delivery in 2014.
Restructuring is unavoidable, however, China could survive by monopolizing domestic new orders and conducting offensive dumping sales.