Consolidation among shipbuilders may be starting to bear fruit. The newly merged Hyundai Heavy and Daewoo Shipbuilding reported a return to profits, while the merger of China’s CSSC and CSIC has been approved. New orders taken by Chinese shipbuilders rose 79.9% year over year in 3Q, though the remaining order book is only just above August’s multi-year lows. That’s partly due to an acceleration in construction activity. China’s shipbuilding industry exports climbed 20.3% in September, reversing a 14.7% decline in the prior three months. Taking China, Japan and South Korea together shows ...