CHINA will allow foreign-flagged - but not foreign owned - vessels to engage in coastal trade to assist transshipment growth in the Port of Shanghai.
Chinese carriers with foreign flags will soon have the same in this as China-flagged ships, enabling them to ship international cargo between Shanghai and other Chinese ports, after registering vessels with the transport ministry.
As before, only China-flagged vessels can offer purely domestic services, China-owned vessels, but foreign-flagged ships comprise 58 per cent to the country's total tonnage - of 124 million dwt as of January.
Chinese carriers and Shanghai port should benefit, UBS said in a note, reported Lloyd's List. "In the future, maybe, a considerable transshipment volume in Busan will return to Shanghai, which might also be able to attract transshipments from other ports in China and abroad. This will improve efficiency, cut transshipment costs, thus increasing competitiveness," said UBS.
WORLD SHIPPING
02 October 2013 - 21:40
China opens coast to foreign-flagged - but not foreign-owned - vessels
CHINA will allow foreign-flagged - but not foreign owned - vessels to engage in coastal trade to assist transshipment growth in the Port of Shanghai.
WORLD SHIPPING
02 October 2013 - 21:40
China opens coast to foreign-flagged - but not foreign-owned - vessels
This news 6303 hits received.
These news may also interest you