Shipbuilding orders seen down 50%

THIS year would likely be a tough one for shipbuilding in China with orders down about 50 percent, as the global financial crisis has bitten into the industry, China Association of National Shipbuilding Industry said yesterday.

It predicted orders this year would shrink by 48.4 percent to 65.6 percent year-on-year. Weak demand would trim new ship orders to an equivalent of 20 million deadweight tons to 30 million dwt for the year, the association forecast.