CHINESE Transport Ministry spokesman He Jianzhong predicted at a recent press conference that China's shipping market is going to stay stagnant for a long time, as it is affected by domestic and international negative factors, Xinhua reports.
CHINESE Transport Ministry spokesman He Jianzhong predicted at a recent press conference that China's shipping market is going to stay stagnant for a long time, as it is affected by domestic and international negative factors, Xinhua reports. Chinese shipping market had a short recovery since world economic downturn in 2008, but since second half of 2009 and especially this year, prospects remained gloomy. Now, more uncertainty is casting heavier shadow on the recovery of the world's economy. This will cause the depressing situation to last longer, said Mr He. Mr He said the Chinese shipping market is facing increasing pressure when inflation is getting worse, fuel and labour cost are rising, and shipping rate sliding. Carriers are recording losses. The Ministry of Transport has taken measures to help carriers face austerity challenge. Mr He said carriers should enlarge their fleet structure towards a larger, more professional and a standardised trends. The government will study more preferential taxation policies and enhance utilisation rate of port resources.
