CSSC: Global shipbuilding industry could face a few sluggish years

Thursday, 08 January 2009 14:00:22 (GMT+3)   |  
       

SteelOrbis Shanghai

According to the China State Shipbuilding Corporation (CSSC), ship vessel sales across the global market has slumped sharply, with less and less enquiries being made by buyers.

The CSSC states that the global shipping industry may enter a sluggish period in the next few years as vessel sales activity slows down and as overall transportation capacity increases. The shipbuilding market has now seen a switch from its previous long-standing "seller's market" status to a "buyer's market". Under the effect of the current lack of liquidity, some sellers are requesting renegotiations of their contracts or postponement of deliveries.


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