China: China is to increase cash subsidies for scrapping
discarded vessels by 50% in order to help cut overcapacity and emissions.
The Chinese government will grant US$ 247 per tonne (Euro
171) for shipping companies to replace vessels, according to an official online
statement. The award applies to vessels scrapped in the years 2013 through to
2015.
Under the new programme, ship operators receive half the
money on completion of scrapping and the rest after placing new building
orders, according to the statement. Under a 2010 rule, they had to complete
scrapping and place new ship orders before receiving any of the subsidy.
Chinese shipbuilders also stand to benefit from the subsidy hike.
Source: recycling international.
24 December 2013
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