Visit Our Sponsors
The commission stated that it would supervise shipbuilding capacity in the province and promote mergers in order to optimize capacity.
The global downturn in shipbuilding, particularly in China, has been evident for the past several years as newbuilding orders plunged amid an oversupply of ships. Jiangsu was hit particularly hard by the downturn this year as it newbuild orders declined about than 72 percent from last year.
Enjoy curated articles directly to your inbox.