BEIJING has added nine shipbuilders to a "white list" of yards worth saving as authorities endeavour to trim overcapacity in the field, Reuters reports.
Its list of 50 yards designate those eligible for bank loans and export tax rebates. Nine include units of state-backed firms: China State Shipbuilding Corporation, China Shipbuilding Industry Corporation, China Ocean Shipping (Group) Company and Aviation Industry Corporation of China.
The list has been posted on the on the Ministry of Industry and Information Technology's website.
China has more than 1,600 shipyards and analysts predict that about a third will shut as the industry struggles to emerge out of a shipping capacity glut that has hit freight rates. Last year, it laid out a detailed three-year plan to restructure the industry.
SHIPBUILDING
15 December 2014 - 23:16
Beijing adds 9 shipbuilders to list of yards worth saving as it culls capacity
BEIJING has added nine shipbuilders to a "white list" of yards worth saving as authorities endeavour to trim overcapacity in the field, Reuters reports.
SHIPBUILDING
15 December 2014 - 23:16
Beijing adds 9 shipbuilders to list of yards worth saving as it culls capacity
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