Asia's financial crisis affects Chinese yards

Article Abstract:

China's shipbuilding industry suffered one of its worst years in 1998 due to the combined effects of the devaluation of the Japanese and Korean currencies and the Asian financial crisis. Orders for new ships dropped by 40% compared to 1997 figures, while export orders also suffered major reversals. Five major trends have been identified by the industry that will set the tone for the industry in the coming years. These are the long-term impact of the Asian financial crisis, decline in newbuilding prices, the aging of the Chinese fleet and the development of high-value ships.

Industry Overview, Economic aspects, Asia, Depressions, Economic depressions

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Experiencing the Chinese dream

Article Abstract:

The Chinese are known to possess the necessary knowledge, skills and experience in constructing top-quality vessels, but there appear to be problems in work efficiency. Usually, superintendents coming from the West notice loopholes in the production process, resulting in lower quality control. Other manufacturing issues include the lack of safety and effective communication as well as unsatisfactory quality and excessive supervision needs.

Cover Story

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