Sub­si­dies in­creased for large ship­builders

China Daily (Canada) - - NEWSCAPSULE -

China, the world’s big­gest ship­build­ing na­tion, will in­crease cash sub­si­dies for scrap­ping ob­so­lete ships by 50 per­cent to help cut over­ca­pac­ity and emis­sions.

The gov­ern­ment will grant 1,500 yuan ($247) per gross ton for ship­ping com­pa­nies to re­place ob­so­lete ships, ac­cord­ing to a state­ment on the trans­port min­istry web­site. The sub­sidy will ap­ply to ves­sels scrapped in 2013 through 2015. Chi­nese ship­builders also stand to ben­e­fit from the sub­sidy, half of which is awarded only af­ter re­place­ment or­ders are made. (Photo 5)

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.