Shipyards in China, the world's largest vessel-building nation, are at risk of closing after they failed to secure orders, according to ICAP Shipping International Ltd.
Thirty-eight per cent of yards in the country didn't get contracts for new vessels in 2012 and 10 per cent have no deliveries scheduled beyond the year's end, the London-based shipbroking unit of ICAP said in a report sent by e-mail on December 24.
"There is a real chance now that a significant number of yards will close," ICAP said.