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Visitors take photos of the model of a container freighter made by Jiangnan Shipyard (Group) Co Ltd at an exhibition in Shanghai. The shipyard will soon join the bidding for construction of the country's second polar research ship. [Photo provided to China Daily] |
"The competition process will be fierce, especially at a time when the whole shipbuilding industry is suffering from falling demand," Hu said.
Shipbuilding is one of the sectors suffering from overcapacity. More than 30 major large-scale shipyards went bankrupt over the past two years, according to the China Association of the National Shipbuilding Industry.
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