Greater China

Shocking first half figures for shipyards

Beijing: China’s first half shipyard figures make grim reading and the national shipbuilding association warns there is no help in sight from Beijing.

In the first half, newly received order volume in China is 10.74m tons, sharply down 50.3% year-on-year. Till the end of June 2012, orders on hand stood at 125.87m tons, a decrease of 30.7% year-on year. The equipment division of the Ministry of Industry and Information estimated many yards may will run out of work during the second half of 2012.

“The shipbuilding industry is getting worse. Beijing has not released any new specific supporting measures for the industry yet,” an official from the national shipbuilding association told SinoShip News.

Despite fevered speculation Beijing has yet to announce any stimulus measures to combat a slowdown in the economy.  [02/08/12]

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