Up to 40 Chinese shipyards are expected to close in the next three to five years, according to Yangzijiang Shipbuilding chairman Ren Yuanlin.
He told reporters that the country has about 60 operational plants, some with only one vessel on order.
Two-thirds of these could go to the wall, he added.
Turning to his own company, Ren said Yangzijiang could buy steel plates from Korea and Japan if prices remain high in China.
