Zhang Shengkun, director of Shanghai Society of Naval Architects and Marine Engineers, point out that Chinese shipbuilding industry would see another tough year in 2012 under the double-blow of international financial crisis and increasing overcapacity.
In 2011, over 30% of Chinese shipyards fail to receive any orders while facing domestic productivity oversupply. Zhang put forward that Chinese shipbuilders have to make industrial restructuring or carry out mergers and acquisitions as well as develop high-tech, high value-added and green ships.
In 2010, China led global shipbuilding industry by taking 43%, 54% and 41% of global deliveries, new orders and orderbook respectively. However, Chinese shipbuilding is big but not strong enough, still facing gap with Korean shipbuilding.
As French shipbroker BRS recently predicted, the global new orders for 2011 is projected to decline by 30% to 70m-90m dwt, especially for bulkers and tankers. On the contrary, new order activity for high value-added, green ships and offshore plants seen great rise in this year.