Beijing: The National Development and Reform Commission (NDRC) has announced that it will start to ban new shipbuilding capacity in order to resolve the overcapacity problem in the industry. It has asked all the relevant authorities not to give approvals to any new infrastructure project of shipbuilding, ship repair and offshore equipment.
An official at NDRC said it is very crucial to curb new shipbuilding capacity in this severe market situation, and the move will facilitate the update and transformation of the shipbuilding industry. [21/08/13]
