Chinese Shipbuilding Industry Faces Credit Crunch

July 6, 2009

According to China Daily, the nation’s shipbuilding sector is suffering from a shortage of funds. China's ship builders received 1.18 million deadweight tons (DWT) of new orders in the first five months this year, a decrease of 96 percent year-on-year, according to statistics from the Ministry of Industries and Information Technology (MIIT). Meanwhile, orders of 55 vessels, or 2.32 DWT, were canceled during the same period, about 1.2 percent of the industry's total holding orders as of the end of May, said the ministry. Most domestic banks are lending with caution, even as the country's top economic planner vowed to fund the industry in early June.

 



Logistics News

Maersk Teams Up with Shanghai Port on Green Methanol Shipping Fuel

Maersk Teams Up with Shanghai Port on Green Methanol Shipping Fuel

Techcross Smart Platform Leverages Data for Customer Services

Techcross Smart Platform Leverages Data for Customer Services

SSY Hires Wang to Drive LNG Business in China

SSY Hires Wang to Drive LNG Business in China

First LNG Bunker Ship Launched in China for Fratelli Cosulich Group

First LNG Bunker Ship Launched in China for Fratelli Cosulich Group

Subscribe for Maritime Logistics Professional E‑News