Chongqing will scrap 700 ships in the next four years:

Shanghai: The ongoing standardisation of ships along China’s longest river, the Yangtze, continues with plans to scrap more than 700 old vessels in the Chongqing area.

Wang Botao, director of the Chongqing port and shipping authority, said: “The capacity structure adjustment is an important part of the shipping industry structural adjustment. We must develop large-sized and standardized ships, and also accelerate the scrapping of old ships.” From 2003 till now, Chongqing has scrapped over 700 old ships. “In the next four years, Chongqing has a mission to eliminate another 700 ships,” Wang said.

Source: Sino Ship News. 07 November 2012

http://sinoshipnews.com/news_content.php?fid=3w3c607