China's giant shipbuilding industry in 2014 finally took the painful but necessary steps to eliminate overcapacity. But this could have sown the seeds of a deja vu situation, this time for the offshore sector. By combining the 'white list' of shipyards that meet technical standards set by China's Ministry of Industry and Information and market competition, China eliminated about 10 million dwt of shipbuilding capacity in 2014. That is equivalent to 12.5% of overall capacity recorded by the China National Association of Shipbuilding Industry (CANSI) in previous years, when Chinese shipbuilding was in its heyday.
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