Chinese small-and-medium sized shipyards with technical skills are planning to overcome shipbuilding crisis with 'new order drought' by building fishing boats.

Commercial ship segment is sensitive to shipping market and global economy, while fishing boat is not directly influenced by macroeconomics.

There will be growing demand for newbuilding fishing boats in China. Among about 1 million fishing boats in China, vessels under the age of five accounting for only 10%, while over 20 years for 70%. Also, less than 10% meet international regulations and demand for deep-sea fishing vessels increases fast.

To build high-value deep-sea fishing vessel, shipyards still needs government supports.