The shipbuilding industry’s rollercoaster continued in January as exports from China, Japan and South Korea dropped 7% on a year earlier. That was mostly the result of a 22% slump in exports from China. That was the fifth straight decline, and largely reflects the collapse in orders China’s yards suffered through last July. Should a recovery not be forthcoming then COSCO Shipping may come under pressure to expand its fleet further, as Hyundai MM has done. On a trailing annual basis exports climbed 10% to $74 billion, showing that global shipping fleets are expanding in broad ter...