Beijing: China's State Council has issued a three-year plan to upgrade and restructure the troubled shipbuilding industry. Shipbuilders will be encouraged to develop high value-added ships.
"Restructuring and technology upgrading will be the focus of the shipbuilding industry in the next few years, to control the oversupply of low-end ships and boost technology competence in producing high-end ships," said Nie Lijuan, deputy secretary-general of China Association of the National Shipbuilding Industry (CANSI).
In the first half of this year, Chinese shipbuilders received 22.9m dwt of new orders, up 113.2% year-on-year, however, the country's 80 major shipbuilders reported net profits of RMB3.58bn, a 53.6% drop year-on-year, according to the statistics released by CANSI. [05/08/13]
