Chinese shipyards appear to be having problems in financing.
A local sources said that during the first eight months of this year, Chinese shipyards' overall delivery, new order and orderbook all declined by 12%, 48% and 30% each year-on-year.
Chief Executive Li Sheng of HIT Marine Company in China said usually Chinese shipbuilders are financed through loan application or refund guarantee. As shipyards and banks are closely connected, they go along together when times are good or bad.
As more orders are contracted in heavy-tail, shipyards, particularly small-and-medium sized companies, could not sign orders due to funding problem.
Mr. Li said that Chinese shipbuilders' cascade of bankruptcies, as many specialists propct, has not started yet. However, with more shipyards facing depleted orderbook next year, it is hard to predict how 2013 would be.