China’s yards suffer dramatic order loss

In the first seven months of the year, the Chinese shipbuilding industry suffered a drastic loss in orders, down 30% year-on-year, with may yards reporting not a single order thus far in 2011.

According to the China Association of National Shipbuilding Industry's (CANSI) recent statistical data, China's shipbuilding output in Jan-Jul period has climbed to 38.46m dwt up by 9.3% from the same period last year. 

However, newbuilding orders during the seven month period decreased 29.2% to 23.58m dwt. Newbuilding orders in July ended up 1.98m dwt, which is about 5.55m dwt lower than deliveries in the same period.