Tonnage Over-supply to Ease

Source:Asiasis
2011.11.21
646

While Chinese shipbuilders, ranked global top in new order, orderbook and delivery last year, have been in a trouble in 2011, shipping companies are expecting a turnaround.
Shipping industry estimates poor business in Chinese yards would be able to control supply-demand of tonnage. 
Among 2,000-odd of yards in China, about 30% had no new order by Q3, 2011.
According to China Association of National Shipbuilding Industry (CANSI), new order in September just remained 940,000 dwt, the lowest since September 2009.
Especially, some of shipbuilders are expected to face a danger of going bankrupt during the first half next year, with totally exhausted works.
Meanwhile, delivery delay or cancellation by financing problems of yards and overseas owners would calm down over-supply in shipping market.

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