China Shipbuilding Association: Ultra-6 into the shipyard did not order last year, shipping experts say prices will continue to fall

Although China's shipbuilding enterprises will accept orders from June
the ship began to move out of the fourth quarter of 2008, its lowest
ebb since the state has larger volume, but the year 2009,
approximately 65% of the shipping companies did not receive any
orders, in particular, some emerging shipyard. China Shipbuilding
Industry Association in the latest release of "Economic Operation
Analysis Report" that in 2009 the first 11 months, the domestic
shipbuilding increase in corporate profits fell 36.9%, shipping
companies to increase 369 million yuan year on year losses.

Report pointed out that under the impact of the shipping
market is gradually warmed up, China's shipbuilding output has monthly
for 4 consecutive months over 4 million tons, maintaining stable and
rapid growth. Which in November received new ship orders for 3.83
million dwt, accounting for the world in November for more than half
of new ship orders.

China Shipbuilding Association, said the people concerned,
China received orders for new vessels mainly in Group two ships, as
well as Jiangsu, Zhejiang, Fujian, Shandong and other provinces part
of the shipyard.

In 2009, the local large-scale shipbuilding enterprises to
further improve its market share. 1 November, the main shipbuilding
shipbuilding industry cities main business revenue, profits have
maintained more than 30% growth. Analysis of these people, thanks to
the revitalization plan the ship after the introduction of timely
adjustments to the shipbuilding industry over taxation, finance,
mergers and restructuring, industrial investment, structure, and to
give policy support.

1 November, the National 1859 industrial enterprises above
designated size ship main business income of 408 billion yuan, an
increase of 30.9%. In addition, the total profit of 31.64 billion
yuan, an increase of 8.3%.

Statistics also show that a ~ 11 months, China's shipbuilding
reached 36.54 million deadweight tons. China Shipbuilding Association
expects full-year amount is expected to be completed more than 40
million dwt.

In 2009 in China there are still about 30% of handheld
shipbuilding orders by the financial crisis had been postponed
delivery or cancellation, 1 November, shipbuilding enterprise profit
24.23 billion yuan, up 19.6%; 296 loss-making enterprises shipbuilding
industry (including manufacturing and supporting repair and
ship-breaking industry), a loss of the amount of 1.32 billion yuan.

Shipbuilding industry experts believe that the rising prices
of individual ship new ship does not mean that the current
shipbuilding market has adjusted in place, new ship orders is still
not enough to support the new vessels to enlarge stabilizing the price
level, prices continue to fall is still the main trend of development.