At the beginning of 2009,demand collapsed under the force of the fierce wave of global financial crisis,and the burst of BDI bubbles accelerated.A special“war”between shipbuilding industries in China,Japan and Korea has unfolded.The competition involved is not only in terms of orders,price and environment-friendliness,but also in terms of cost-efficiency,multilateraries and overseas expansion.Though China has overtaken Korea in new orders and orders in hand,considedng the different strategies adopted by the three countries,the true winner will be the one who will be able to“talk while laughing”after the storm.