Taiwan has unveiled a TWD560bn ($17.6bn) relief package to help the country’s ailing shipping sector struggling with financial difficulties, the local media reported.
The overall sluggish shipping market of today can look forward to the One Belt One Road (OBOR) initiative as a long term catalyst for growth, industry players from the financial sector have shared.
Malaysia has unveiled a generous new tax incentive scheme to help boost its shipbuilding industry, local reports said.
As the crisis in China’s shipbuilding industry deepens, Beijing is in two minds on whether to continue funding state-owned yards while almost all private enterprises have been wiped out, according to Ren Yuanlin, executive chairman of Yangzijiang Shipbuilding.
Readers who have been following Seatrade Maritime News coverage of China’s shipbuilding market would be familiar with the country’s shipyard “white list” and the meaning behind this policy, introduced back in September 2014.
Beijing’s policy on the ‘white list’ of shipyards will be tightened and improved on, following the collapse of several listed shipyards amid the severe downturn of the shipbuilding sector.
China is planning to build its second icebreaking vessel at a domestic shipyard with a bidding process to be held end-April, as Beijing seeks to undertake more scientific research expeditions to the polar regions, reports said.
The sluggish dry bulk shipping market may get a boost from positive signals coming from new Chinese policies under its new 13th Five-Year Plan (2016-2020) that includes “supply-side structural reform” aiming to eliminate “superfluous industrial capacity”, according to DNB Markets.
The Chinese ministry of industry and information and technology (MIIT) has released a development blueprint for the ship equipment industry under China’s 13th Five-Year Plan for 2016 to 2020.