Number of shipyards, docks will be cut
China, the world’s largest shipbuilding country, will cut the number of shipyards, docks, berths and maintenance facilities it opens, according to an official.
“Blind investment activities in the shipbuilding sector must be restrained,’’ said Li Dong, deputy director-general at the department of equipment industry at the Ministry of Industry and Information Technology.
China has 1,600 shipbuildingrelated enterprises, including 800 large shipyards. A total of 1.5 million people work in the industry, according to the National Development and Reform Commission.
“Even though China received more orders than Japan or South Korea last year and this year, new ship prices hit rock bottom over the past two years, and there is no sign of recovery,” said Zhang Guangqin, president of China Association of the National Shipbuilding Industry. “It will take another five years for overcapacity to be eased.” (Photo 1)