China has long maintained a dominant position in the global shipbuilding industry, and it accounted for more than 76 percent of orders in April, according to British analytics firm Clarksons Research.
However, the consumer side of the cruise market has not performed as expected this year.
Even the lower prices failed to attract customers, according to reports from travel agencies amid an unwillingness to spend that has plagued China’s overall economy. The pouring in of investment amid an unwillingness to spend is resulting in an unprecedented competitive landscape for the industry.
