COSCO Shipping Heavy Industry plans to cut three shipyards. The impact on global shipbuilding capacity is likely to be small given it focuses on specialty equipment rather than mainstream container-liners. Total deliveries of new vessels across all classes fell 13% in 2016 vs. 2015, Panjiva’s analysis of data from China, Japan and South Korea shows, before rebounding 17% in January. That increase is likely to prove a temporary effect of the timing of the lunar new year holiday, though orderbook data from CANSI will give more clarity.