China’s small shipyards, unlike troubled medium-size and large builders beset by headline crises, are in many cases not even shutting down when the orders dry up, says newbuilding broker Li Sheng of Shanghai-based HIT Marine Co Ltd.
That means they are a different kind of problem from the big yards, where, as analysts often complain, physical capacity remains in place as a persistent threat, despite bankruptcies, restructurings and takeovers.
