Shipbuilding overcapacity overestimated: trade group

Sep 07, 2012 | 09:44 AM | None

Tags  Chinese shipbuilding, shipbuilding capacity, China Association of the National Shipbuilding Industry, Cansi

SHANGHAI, China — China’s surplus of shipbuilding capacity has probably been overestimated, the country’s association for the shipbuilding industry said.

It attributed this to some small and medium-sized shipbuilders having already been phased out.

Production of ships ordered before the financial crisis has contributed to shipping overcapacity, reducing freight rates while global trade remains lower than expected.....

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