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HomeMaritime NewsRegionsAsiaChina’s Yizheng city to order shut down of 17 small scale yards by 2020

China’s Yizheng city to order shut down of 17 small scale yards by 2020

China’s Yizheng city to order shut down of 17 small scale yards by 2020
China’s Yizheng city government has outlined a plan to order the shut down of 17 small scale domestic shipyards from this year until 2020 as part of an overall effort to deflate the country’s excessive yard capacity.

According to the plan, the Yizheng government of Jiangsu province said five local small yards will be closed this year.

In the three years from 2018 to 2020, four small yards will be shut down each year, bringing the total to 12 over the period.

Some of the yards to be shut down will include Jiangsu Sugang Shipbuilding, Yizheng Kangping Ship Repair and Yangzhou Meihua Shipbuilding. The total shipbuilding capacity of the 17 yards was not revealed.

China’s shipbuilding industry has been suffering from a protracted period of downturn due primarily to the shipbuilding capacity glut amid reduced orders and lower prices.

TAGS: Shipyards Regions China
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