China's Yards Brace for Leaner Times as Oil Slump Sours Rig Building Spree

Even without competition from South Korea, prospects look bleak in the jackup rig trade.

"Some yards might have to drop their prices by 5-10 percent in order to attract potential buyers in the current market climate," said Lianghui Xia, a Shanghai-based shipbroker at RS Platou.

(Additional reporting by SHANGHAI Newsroom and Joyce Lee in SEOUL; Editing by Kenneth Maxwell)


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