Shanghai: Taizhou, a leading shipbuilding city in Southeast China is facing huge pressure amid the industry downturn, with over 80% shipbuilding companies unlikely to survive, the local shipbuilding industry association warned.
During the peak time of shipbuilding, there were around 190 shipbuilding companies in Taizhou, most of them private yards. In spite of the sluggish market, the recent plans to support the shipbuilding industry released by Beijing doesn't include private shipbuilders, and so won't halt the closure of more yards, local source said. [16/08/13]
