The shipping industry has affected the shipbuilding industry

The shipping industry has faced massive losses, and the shipbuilding sector has also been caught in a difficult situation. According to the latest data from the Ministry of Industry and Information Technology, in 2012, the mainland's shipbuilding industry saw a sharp increase in new orders and the number of ships on hand compared to the previous year. However, despite this growth, many shipyards are struggling with declining demand and financial pressure. Reports from mainland media indicate that one-third of shipbuilding companies have not received any orders, and nearly half may face bankruptcy within the next two to three years. At the end of January, the Ministry of Industry and Information Technology released its annual data. In 2012, the total completed ship volume reached 60.21 million DWT, a 21.4% decrease from the previous year. The volume of sea-going ships was revised down to 19.1 million tons. New ship orders fell by 43.6% year-on-year, reaching 20.41 million DWT. As of December 31, the total backlog of ships stood at 106.95 million DWT, a 28.7% drop from the end of 2011, with 82.7% of these being export vessels. One major challenge is the difficulty in recovering funds. The "China New Shipbuilding Price Index," launched on July 1, 2011, has shown a consistent decline since its release. The dry bulk carrier composite price index dropped from 1,000 points to 841 points by December 30, 2012—a fall of 14.4%. Nearly 70% of the mainland's shipyard output consists of dry bulk carriers, which has severely impacted the entire industry. Zhang Shouguo, Executive Vice President of the China Shipowners Association, noted that the mainland shipbuilding industry has been operating on "orders before consumption" for the past two years. He believes that the industry will struggle to improve in 2013, with conditions likely to worsen by 2014. Ren Yuanlin, Chairman of the Yangtze River Shipping Group, known as the "private ship king," warned that the real challenges for the shipbuilding industry will begin in 2013 and could take five years to resolve. Industry experts predict that 50% of mainland shipyards may go bankrupt within the next two to three years. With the implementation of stricter international regulations and standards, delivering ships has become increasingly complex. Some shipowners are even refusing to take delivery, making it harder for shipyards to recover their investments. As a result, many shipyards are facing severe financial difficulties, including cash flow problems, payment delays, and shrinking profit margins.

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