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China Plans ‘Orderly’ Delivery of Ships as Glut Hits Rates

China, the world’s biggest shipbuilding nation, intends to strengthen control of vessel deliveries to reduce a capacity glut that has hit rates and operators’ earnings.

“We will guide the orderly arrival of new container and dry-bulk ships in the market,” Transport Minister Li Shenglin said today in a speech at a conference in Hainan province. He didn’t elaborate on the steps the government may take.