According to Zhang Shengkun, director general of the Shanghai Society of Naval Architects & Marine Engineers, China’s ship industry will look up at the end of 2009.
Ship builders are optimistic about the recovery of China’s ship industry which is supported by the revitalization plan made by the Government.
Zhang Shengkun, in a press conference at Marintec China 2009, said that China shipyards currently had fairly full order books and he sees this trend increasing towards the end of the year.
China State Shipbuilding, the major shipbuilding company, in the first quarter completed ships with a gross value of RMB 114.1 billion, up 42.9%.
Investment Watch reported that Zhang Shengkun suggested that shipbuilders should take the opportunity to deal with industrial restructuring and technology innovations.
Recent reports said Grand China Logistics planned to purchase Jinhaiwan Shipyard, which is thought to be the start of a major regrouping within the industry.