This Shipyard Is So Unprofitable It's Becoming a Parking Lot

Updated on
  • Demand for vessels has waned amid China's economic slowdown
  • World's biggest auto market has shortage of car parking spaces

Steel beams are built for a parking lot inside a shipbuilding workshop.

Source: China Ocean Industry Group Ltd.

Chinese shipbuilders are under so much financial strain that one of them is literally being turned into a parking lot.

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