China’s shipyards saw a 12th straight fall in their remaining order-books in May, with the resulting 81.2 million dwt being the lowest since at least December 2011. This is partly due to a loss of market share to South Korean yards – Hyundai Heavy saw a fivefold rise in orders in the first five months of the year. China’s yards meanwhile saw a 31% drop in orders in the first five months of the year. That means an 11% fall in export revenues seen in the first four months, Panjiva data shows, is likely to continue.