Many ship recyclers in China are likely to go bankrupt in the coming 12 months the head of the nation’s ship recycling association has warned. Speaking with our sister site, Maritime CEO, Xie Dehua, president of the China National Ship Recycling Association, said: “Many of China’s ship recycling yards will go bankrupt next year.”
Xie’s thoughts echo a recent market report from ship scrapping specialists GMS which predicted Chinese recyclers would continue to suffer from limited business through to the end of 2015.
Source: sinoship news. 23 October 2014