Yangfan Group remains optimistic despite deciding to cut its capacity

Yangfan Group is cutting its shipbuilding capacity by 25% as it adopts a strategy counter to Japanese-owned rival Tsuneishi Group (Zhoushan) Shipbuilding.

The Chinese shipbuilding group, which has three yards in the Zhejiang province city of Zhoushan, will be closing down one of its complexes.

Yangfan executive director and president Tao Zhonghai tells TradeWinds that the group’s Zhoushan Shipyard will cease operations by the end of next month.