Seoul: So dire is the order drought in China that even Japan is set to overtake the PRC according to a recent report from South Korea.
Analyst Park Mu-Hyun of E*Trade Securities in Korea said that Chinese shipbuilding industries are now collapsing and Japan will take back second place in the global shipbuilding pecking order.
Japan’s focus on single ship types – eco-bulkers – has paid off with many yards still reporting orderbooks stretching into 2014.
"Japan with a long shipbuilding history knows it very well that focusing on one's specialty will eventually raise its competitiveness," Park wrote in his recent report. [13/09/12]