China Shipping Container Lines (CSCL) announced in a
stock market announcement that it will be benefitting this financial year from
government subsidies for the scrapping of older vessels.
The CSCL Group, including its units, "has
applied for the special subsidies in respect of the retirement and dismantling
of seven vessels (including Xiang Pu vessel) during the period from 1 January
2013 to 30 April 2014, and has received special subsidies in the amount of
approximately RMB77.7m ($12.5m) from the Ministry of Finance as subsidy for the
retirement and replacement of transportation vessels on 29 December 2014".
CSCL will be recognizing the subsidies as
non-operating income, and include it in the same in the consolidated profit and
loss for 2014 of the group.
"Receipt of such subsidies will have a positive
effect on the 2014 annual results of opera.
Source: seatrade global. 30 December 2014
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