China has announced that 11 more shipyards have made the ‘white list’ status, with 10 from the private sector and one state-owned yard, adding on to the current 60 that are already on the list.

China has issued its first batch of so-called ‘white list’ offshore shipyards, of which seven that made it are all state-owned companies.

The shipping sector is the only business in Cyprus whose size goes far beyond the size of Cyprus as a country and is acknowledged as a catalyst towards the steady recovery of the Cyprus economy, the country's President, Nicos Anastasiades, told the opening session of the Maritime Cyprus 2015 event in Limassol, 14 – 15 September.

China has invited offshore shipyards to send in their applications for reviews by the relevant authorities on the drawing up of a so-called ‘white list’, similar to the existing list for conventional shipyards.

State-owned shipping conglomerate China Cosco Group announced that it has received RMB3.96bn ($637.8m) in subsidy from its ship disposal and newbuilding activities.

China has extended a scrap-and-build policy due to be expired in 2015 by two years to 2017, according to the ministry of transport.

A subsidy on newbuildings announced by China in late 2013 to help the country’s shipping sector should be extended beyond its policy end date of 31 December 2015, according to Gao Yanming, chairman of Hebei Ocean Shipping Co (Hosco) Group.

As Greece’s bailout talks with it European Union counterparts collapse the country’s new government has also been seeking to shore up relations with partners in other parts of the world. Greece’s Prime Minister Alexis Tsipras, last week was on the telephone reassuring Chinese Premier Li Keqiang Greece is a reliable commercial partner.

China’s ministry of transport has spelled out a roadmap to 2020 on the development of its shipping industry, in a bid to raise the sector’s level of services and global competitiveness.

China is coming up with an offshore shipyard list, likened to the ‘white list’ of conventional vessel builders, in an effort to promote the development of the sector.

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