![Featured Collection: Shanghai Shipyards [HD PHOTOS]](https://gcaptain.com/wp-content/uploads/2013/12/tag-reuters-12.jpg)
China laid out a detailed three-year plan in early August to restructure its massive shipbuilding industry, urging local governments to halt approvals of new projects and companies to build high-tech vessels. While state-owned and better quality private shipyards now have enough construction orders to keep busy into 2015 or 2016, the future looks grim for the rest, many of whom have already run out of work.
Updated: August 29, 2023 (Originally published December 20, 2013)
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Three US-sanctioned tankers have arrived for demolition on India’s west coast in under a month, an unusually strong start to the year for a ship-breaking trade that is increasing its acceptance of dark vessels in order to counter a painful downturn.
Dubai-run GMS has applied for a U.S. license to buy and scrap ships seized by the U.S. government linked to Venezuelan oil trading, the leading ship recycler's CEO told Reuters.
Mitsui O.S.K. Lines, owner of the world’s largest fleet of liquefied natural gas carriers, said it is hard to buy Chinese vessels for the time being as the US ramps up scrutiny of the Asian country’s shipbuilding industry.
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