China’s Qingdao Yangfan Shipbuilding Co has stopped building commercial ships after running out of cash and joining the list of domestic shipyards that have succumbed to the downturn in business.
Industry players say construction of newbuildings at the partially state-owned Qingdao-based shipyard started slowing down in January and came to a complete halt around four months ago with no sign that the shipyard will resume production anytime soon.
