The China Association of the National Shipbuilding Industry has announced that contracts for 172 new buildings totaling 5,952,000 DWT during a 10 month period from October 2008 to July 2007 had been canceled in China.

CANSI report released earlier this month show that the finding was revealed in the State of Economic Operations by the Shipbuilding Industry for January to July 2009.

CANSI stated, however, the number of cancellations is based on an approximate estimate which led Japan Kaiji Press to speculate that the number is actually higher. During July deals for six new buildings amounting to 342,000 DWT were annulled.