China announced revisions
to it subsidy program for companies breaking old transport ships and
single-hulled tankers Monday, but industry insiders said this would do little
to cut restrictions on what ships could be broken.
"This will benefit
ship owners directly, not us ship breakers. Our shipbreaking orders may
increase only slightly at most," a source from Changjiang ShipBreaking
Yard said. "As far as I'm concerned, the influence will be the same as
before. Ship builders' orders could increase a little."
A number of restrictions
would prevent the policy from achieving its goals, industry sources told
Platts. Broken vessels must be Chinese and broken by designated ship breakers.
Replacement vessels must also be built by Chinese shipbuilders and must be at
least equal in tonnage to the broken vessel and would have to be registered
with the China Classification Society.
The policy, jointly
announced by the ministries of finance and industry and information technology
as well as the national development and reform commission, would give ship
owners up to Yuan 1,500/gross ton of ship scrapped in subsidies.
Source: platts.
10 December 2013
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