Chinese shipyards are dominating the world’s shipbuilding industry with a market share of 41% and hand-held orders of about 156.20 million dwt, according to a domestic news report, citing Clarkson data.

An increasing number of Chinese shipbuilders are shifting their focus to the offshore engineering segment to alleviate the side effects from a drop in demands for traditional commercial vessels.

However, there are industry insiders expressing their concerns about Chinese yards’over-enthusiasm about the offshore engineering field, saying that with the falling of oil prices, demands in the sector will become diminished quickly, the report added.