The shipping industry has affected the shipbuilding industry

The shipping industry has experienced significant losses, and the shipbuilding sector has also been struggling under heavy pressure. According to the latest data released by the Ministry of Industry and Information Technology, in 2012, the mainland's shipbuilding industry saw a sharp increase in both new orders and the volume of hand-held orders compared to the previous year. However, this growth was short-lived, as the overall market conditions deteriorated rapidly. According to reports from mainland media, nearly one-third of shipbuilding companies have not received any orders, and it is estimated that 50% of them may face bankruptcy within the next two to three years. The Ministry of Industry and Information Technology disclosed these figures at the end of January. In 2012, the total completed shipbuilding volume reached 60.21 million DWT, a decrease of 21.4% compared to the previous year. The sea-going ship volume was revised down to 19.1 million tons. New ship orders for the year totaled 20.41 million DWT, a decline of 43.6% year-on-year. By the end of December, the total number of held ship orders stood at 106.95 million DWT, a drop of 28.7% from the end of 2011, with 82.7% of these being export ships. One of the biggest challenges facing the industry is the difficulty in recovering funds. The China New Shipbuilding Price Index, launched on July 1, 2011, has been in a downward trend ever since. The dry bulk carrier composite price index fell from 1,000 points to 841 points by December 30, 2012—a decline of 14.4%. Nearly 70% of the output from mainland shipyards consists of dry bulk carriers, which has led to severe difficulties across the entire industry. Zhang Shouguo, executive vice president of the China Shipowners Association, stated that the mainland’s shipbuilding industry has been “holding orders before consumption” over the past two years. He believes that the situation in 2013 will remain challenging, and by 2014, things will likely get even worse. Ren Yuanlin, chairman of the Yangtze River Shipping Group, known as the "private ship king," also warned that the real crisis for the shipbuilding industry will begin in 2013 and could take five years to fully recover from. Industry experts predict that half of the shipyards in the mainland could go bankrupt within the next two to three years. With the implementation of stricter international regulations and standards, ship delivery has become increasingly difficult. Some shipowners are even refusing to take delivery, making it harder for shipyards to recover their investments. As a result, many shipyards are now facing complex challenges such as funding shortages, payment delays, and declining profits. The outlook for the sector remains bleak, with no clear signs of improvement in the near future.

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