Analysts predict: toughest year yet to come for Chinese yards

摘要

The Chief Analyst of the Chinese Ship and Industrial Economic Research Centre said that 2010 would be the hardest year for Chinese shipyards as more problems would emerge by then.rnAccording to Bao Zhangjing, more business conflict would arise next year due to the decline in the shipping market and the global decrease in materials used in shipbuilding. Ms Bao said that thernshipbuilding industry would begin to feel the pressure to get new orders once they start building ships for 2011 deliveries, as most shipyards did not have orderbooks stretching beyond that.rnStatistics from the Chinese Ministry of Industry and Information Technology show that newbuild contracts at shipyards in China fell a whopping 95 percent in the first four months of 2009 to 990.000DWT.