Photographer: Qilai Shen/Bloomberg

Chinese Shipyards See New Orders Fall by Almost Half in 2015

  • Country's top 10 shipyards accounted for 71% of new orders
  • Excess capacity, declining demand for raw materials to blame

New orders received by Chinese shipbuilders fell by nearly half last year from 2014, suggesting more consolidation is in order as the country’s appetite for raw materials wanes and shipping rates languish at multiyear lows.

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