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Chinese expansion threatens shipyard prices everywhere

Chinese expansion threatens shipyard prices everywhere

Shenzhen: Pointing at Chinese shipyards, the senior executive vice president of Kawasaki Heavy Industries has warned shipbuilding excess capacity could drag prices down for builders everywhere. Speaking at the World Shipping Summit last week, Masatohi Terasaki said, 'There is a possibility that shipbuilders around the world including China are bringing about an excess of shipbuilding capacity. We need a sort of mutual understanding that such an excess of shipbuilding capacity may adversely affect the formation ofshipbuilding price mechansim.' Through to 2010 the KHI executive said shipbuilding volume in China is growing at an annual rate of 22%. Between 2005 and 2010 a total of 11.7m cgt of capacity will be added to yards in China. Kawasaki Heavy Industries has a joint venture yard in Nantong, China which it operates with Cosco.  [6/11/06]

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