China Government to Upgrade & Restructure Shipyards

MarineLink.com
Monday, August 05, 2013

The State Council has issued a three-year plan, ending in 2015, to upgrade and restructure the mainland's troubled shipbuilding industry, a further move to stabilise economic growth, reports the South China Morning Post (SCMP), citing Xinhua.

The sector faced "unprecedented, severe challenges" as a lack of new orders, owing to weakness in the global shipping market, had exacerbated overcapacity in the industry, Xinhua reported, citing a government document.

The sector is among those - including iron and steel, cement, electrolytic aluminium and flat glass - that must accelerate the phasing out of overcapacity, according to a July 24 statement from the Ministry of Industry and Information Technology, cited by SCMP.

Under the government's current five-year economic plan, which runs to 2015, targets for the sector include upgrading shipbuilding standards and developing higher-value-added products.

Source: South China Morning Post
 

 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

RS at SEA JAPAN 2014

Russian Maritime Register of Shipping (RS) was the only Russian company to take part in SEA JAPAN 2014 exhibition and conference – one of the major exhibitions of the maritime industry.

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Finance

Terex Corporation Announces Q1 2014 Financial Results

Terex Corporation (NYSE:TEX) will release its first quarter 2014 financial results on Wednesday, April 30, 2014 after market close. The Company will host a one-hour

Niger Could Sign Deal With Areva soon

The government of Niger, the world's fourth largest uranium producer, is on the verge of renewing an agreement with French state-controlled nuclear group Areva,

Barclays To Exit Some Commodities Markets

Barclays is planning to withdraw from parts of the metals, agricultural and energy markets, echoing moves by other major players like JPMorgan Chase and Morgan

News

Captain of Korean Ferry Praised Safety in Promotional Video

The captain of a ferry that sank off South Korea's southwestern tip with hundreds feared dead said in a promotional video four years ago that the journey was

Terex Corporation Announces Q1 2014 Financial Results

Terex Corporation (NYSE:TEX) will release its first quarter 2014 financial results on Wednesday, April 30, 2014 after market close. The Company will host a one-hour

Deadly Attack In Ukraine Shakes Fragile Geneva Accord

At least three people were killed in a gunfight in the early hours of Sunday near a Ukrainian city controlled by pro-Russian separatists, shaking an already

Government Update

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Obama Offers US Aid to S.Korea Following Ferry Accident

U.S. President Barack Obama on Thursday expressed condolences to the families of the victims of the South Korean ferry sinking and said the U.S. military will provide

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0993 sec (10 req/sec)