China's shipbuilding and related industries will keep struggling in 2013 amid depressed European economy and China's economic growth slowing down.
One executive from Maersk said China should wait until the second half of 2014 for its local shipping, shipbuilding and related industries to recover.
He said recently there were occurring strikes from local shipyards. What more important is that Chinese shipbuilders would face difficulties in paying wages with tightened financial situation. Therefore, local governments are now looking for solutions, such as paying part of wages, etc.
He predicted that Chinese shipbuilding industry would be reduced by half this year, which would give local governments shock.
He added that China should cooperate to overcome current crisis and if local shipyards would be able to hold out around 18 months when the shipbuilding market would pick up then, things would get better.