China’s Ministry of Industry and Information Technology released on Monday, September 1, its first “White List” of 51 shipyards eligible for favourable policy support, in an effort to battle over-capacity in the global shipping market, Reuters reports.
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.
The first ‘White List’ includes the indebted China Rongsheng’s Jiangsu shipyard, Yangzijiang’s New Yangzi shipyard, and two of Sinopacific Shipbuilding yards.
The most heavily represented are China State Shipbuilding Corporation and China Shipbuilding Industry Corporation, with 15 yards in total, China Ocean Shipping has four yards on the list, Sinotrans & CSC Holdings two, and China Shipping Group Co. one yard.
Ministry of Industry and Information Technology official said two more lists are intended for publishing, but without the mention of a time-frame.