China’s shipyards saw a decline in their remaining order-books in April for the first time since October. That came despite a 115% rise in orders on a year earlier and came at the same time as a 60% drop in profits on a year earlier in the first four months of the year. So far government policy has focused on consolidation rather than the integrated industry approach shown in South Korea. The latter has culminated in Hyundai MM splitting orders for 20 new vessels across three shipyards in South Korea. COSCO Shipping already has orders for 25 vessels which will add 19% to its capacity in ...