The volume of global shipping has been on a downward spiral for a number of years, but Chinese ship builders are on the painful road to recovery.

The city of Zhoushan in Zhejiang Province is home to many Chinese ship building companies. Builders in the city have been suffering for years, but things are now changing. Jinhai Heavy Industry, the second largest ship builder in the province, just handed over a brand new container vessel to Mediterranean Shipping Company, the world's second largest container shipper. The captain has already expressed his satisfaction with the new ship and its craftsmanship.

Jinhai Heavy Industry said new ships are more energy efficient and much less expensive thanks to new building technologies. Jinhai still receives new orders, but says the industry's future remains full of uncertainties.

New ships are going out to sea, but the general environment for global shipping still remains challenging. Overcapacity and a slowdown in global trading are among the factors that are still looming. ‍