Nine more shipbuilders have been added to China’s “White List” of shipyards that will enjoy financial support from the state in the forthcoming period, as informed by the country’s Ministry of Industry and Information on Wednesday.
This is the second batch of shipyards that made it to the list of shipbuilding companies which are eligible for restructuring within China’s reform of the sector aimed at boosting competitiveness by cutting overcapacity.
The second round of revision included 21 shipbuilders.
The companies that have joined the selected club are Jiangsu Hongqiang Heavy Industry, Taizhou Maple Leaf Shipbuilding, Guangdong Yuexin Ocean Engineering, CSSC Chengxi Shipyard, CSSC Xijiang Shipbuilding, CSIC Chongqing Chuandong Shipbuilding Heavy Industry, CSIC Tianjin Xingang Shipbuilding Heavy Industry, Cosco (Zhoushan) Shipyard, and Avic Weihai Shipyard.
The first “White List” of 51 shipyards eligible for favourable policy support was released by the ministry in September. However, shortly after the release, Chinese shipbulder Jiangsu New East Marine Equipment Co has been removed from the list by the ministry for undisclosed reason.
The ‘White List’ was announced last year by China’s government, as an additional incentive for shipyards which comply with the country’s requirements in areas such as ship emissions, offering the rule-abiding shipyards benefits such as tax rebates and bank credits.
World Maritime News Staff