Liu Mimg Kang, a president of China Banking Regulatory Commission, recently said that during a global financial crisis three years ago Chinese shipbuilders had the orderbook of three-year workload, however, now they are in a crisis with not much improved newbuilding orders.
Also, he added that worldwide drops of new order is one of the leading indicators of upcoming global depression.
According to China Association of National Shipbuilding Industry (CANSI), China's shipbuilding output and newbuilding order was 7.53m dwt and 1.98m dwt each, newbuilding order being smaller by 5.55m dwt than deliveries.
Current downtrend was shown for nine months, leading to shrinking orderbook.
CANSI said that half of Chinese shipbuilders had secured no newbuilding order in the first half of this year and ten of the main 43 shipbuilders did not book any newbuilding, which reveals polarization.
Official from CANSI forecasts that Chinese shipbuilders would face a wind of change, only outstanding shipbuilders surviving recent difficulties.