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Source: Taiwan News
China, the world's second-biggest shipbuilding nation, will face a capacity glut from 2011 after yards work through existing orders and shipping lines slow new orders, according to a government official.
Insufficient demand will be a "major problem" for as long as three more years, Zhu Hongren, the Ministry of Industry and Information Technology's chief engineer, said today at a conference in Shanghai.
Global shipbuilding capacity will rise to 200 million deadweight tons annually in the next few years, while demand will struggle to reach the 156 million tons it averaged over the past six years, Zhu said.
China, the world's second-biggest shipbuilding nation, will face a capacity glut from 2011 after yards work through existing orders and shipping lines slow new orders, according to a government official.
Insufficient demand will be a "major problem" for as long as three more years, Zhu Hongren, the Ministry of Industry and Information Technology's chief engineer, said today at a conference in Shanghai.
Global shipbuilding capacity will rise to 200 million deadweight tons annually in the next few years, while demand will struggle to reach the 156 million tons it averaged over the past six years, Zhu said.
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