China Daily: Shipping Industry Woes

“China’s shipbuilding industry has been hit hard by the slump in world trade. According to the World Trade Organization, international trade in and out of China fell by 20 percent in the first nine months of this year and by 17 percent across the globe . . . . Although the world’s shipping industry has been seriously thrown off kilter, a quick upturn in the world economy next year could go a long way to restoring equilibrium . . . . Megan McCurdy, head of marine research and consulting activities at Poten & Partners, the New York-based broker and adviser for the shipping industry, said she believes the effects of China’s 4 trillion yuan stimulus package could help restore the country’s shipping industry.”