THE total capacity of the 152 Chinese containerships above 700 TEU, wholly engaged in cabotage fell 15 per cent year on year to 427,400 TEU at the end of 2014, according to the Water Transport Bureau of the Ministry of Transport.
In the category of bulk carriers over 10,000 dwt in the cabotage trade, the overall capacity dropped 3.3 per cent year on year to 53.4 million dwt for 1,689 vessels at the end of 2014, reported IHS Maritime 360.
This was the first decrease since 2010. Compared to the first half of 2014, the second half saw the fall in capacity at a greater pace.
Last year saw a total of 4.4 million dwt for 108 bulkers in the cabotage trade were demolished earlier than the mandatory retirement age, as the government had introduced subsidies to encourage the early scrapping.
At the same time, the capacity for oil tankers decreased 5.1 per cent year on year to 9.9 million dwt for 1,362 vessels. Similarly, a total of 896,300 dwt for 50 oil tankers were scrapped earlier than the mandatory retirement age.
WORLD SHIPPING
17 March 2015 - 22:37
China's 2014 cabotage shipping capacity drops 15pc to 427,400 TEU
THE total capacity of the 152 Chinese containerships above 700 TEU, wholly engaged in cabotage fell 15 per cent year on year to 427,400 TEU at the end of 2014, according to the Water Transport Bureau of the Ministry of Transport.
WORLD SHIPPING
17 March 2015 - 22:37
China's 2014 cabotage shipping capacity drops 15pc to 427,400 TEU
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