Amid global economic recession, Yangzhou Dayang Shipbuilding, affiliate of China’s private-owned shipbuilder Sinopacific Shipbuilding Group, is said to have been successfully revived.

Accumulated order intakes of Dayang have reached 45 units in total, which means the builder has its slots on schedule till 2015 already. Delivery performance of this year is expected to reach 22 vessels including 21 bulkers, one offshore supply vessel and so on.

CEO Bao Tong of Dayang said that international shipping market had been depressed since 2008 and reached a historic low in 2012. From the second half of last year, layoffs have been here and there in shipbuilding industry however new order activity started to recover gradually from the first half of this year showing “U-shape” thus, Chinese shipbuilding market is seen to be revitalizing.

However, Bao continued that this is only an indication of the beginning of recovery and we need more time to see the market fully recover.