Caixin
Dec 07, 2015 07:11 PM

Troubled Winds Ahead for Shipping Industry, Analysts say

(Shanghai) –The shipbuilding industry will continue to shrink amid decline in global orders and overcapacity, an official from the Ministry of Industry and Information Technology, which oversees the sector, said.

China alone will build ships with a total carrying capacity of 80 million tons next year, equal to the forecasted increase in global demand, estimates from the ministry showed.

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