China Adds 9 Shipyards to Favored 'White List'
China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50. These yards, which it says are judged to comply with requirements such as ship emissions, are expected to get favourable policy support, such as bank credit and export tax rebates. The nine include subsidiaries of state-backed firms China State Shipbuilding Corporation…
China Names 9 Shipyards for 'Favorable' Treatment
China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50. These yards, which it says are judged to comply with requirements such as ship emissions, are expected to get favourable policy support, such as bank credit and export tax rebates. The nine include subsidiaries of state-backed firms China State Shipbuilding Corporation, China Shipbuilding Industry Corporation, China Ocean Shipping (Group) Company and Aviation Industry Corporation of China , according to the list put up on the Ministry of Industry and Information Technology's website on Wednesday.
AVIC Singapore Wins 5-Vessel Orders – Construction in China Shipyards
China mainland based shipbuilding management and consultancy (“M&C”) services provider AVIC International Investments Limited (“AVIC Singapore”), which is a member of the Aviation Industry Corporation of China (“AVIC”) group of companies, announce it has secured a US$60 million contract for the construction of five vessels. The order comprises three azimuth stern drive tugboats with 55 tons bollard pull each; a diving support vessel, and a bunkering tanker with 1000 deadweight ton cargo capacity. These service vessels, which will be built at the Group’s subcontracted shipyards in China, are scheduled for delivery in 2013. The latest contract win is expected to contribute positively to the Group’s earnings for FY2012 and FY2013.
