Cosco Shipping Holdings announced that it has benefited from a government subsidy in the amount of RMB510m ($78.3m) under a scrap-and-build policy.

Cosco Shipping Energy Transportation (CSET) announced that it has received RMB355m ($54.9m) in government subsidy under the scrap-and-build policy.

The Singapore Maritime Officers Union (SMOU) is launching a SGD300,000 ($210,868) scheme to help subsidise hotel rooms for officers when they sign off in the republic.

China Cosco Holdings Company announced that it has received a subsidy amounting to RMB189m ($28.3m) from China Cosco Shipping Corporation (Coscocs), its indirect controlling shareholder.

China Merchants Energy Shipping (CMES) announced that it has received RMB763.44m ($115.81m) in government subsidy from the scrap-and-build policy.

China Shipping Haisheng (CS Haisheng) has recently received government subsidies totalling RMB8.26m ($1.3m) which will contribute to its 2015 financial results.

China Shipping Container Lines (CSCL) and China Shipping Development Co (CSDC) have received a combined RMB1.05bn ($169.08m) in government subsidy under the scrap-and-build policy.

Changhang Phoenix (CSC Phoenix), the bulk shipping arm of Sinotrans & CSC Group, said it has received RMB55.4m ($8.9m) worth of government subsidy for scrapping old vessels.

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.

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