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China to implement shipbuilding license system

China to implement shipbuilding license system

Beijing: The Chinese State Commission of Science and Technology for the National Defence Industry has drafted a proposal that would implement a licensing system for shipbuilding, reports the Shanghai Securities Journal. The new system will restrict vessel construction to only those companies with specific licenses and is aimed at directing growth in the industry.

The licenses would encourage the use of advanced equipment, modern technology and up to date management techniques by domestic shipbuilding firms, and would increase safety by eliminating the use of obsolete and outdated construction methods. The authorities have also imposed fines for abuse of the licenses ?"yards using faked or illegally obtained licenses will be fined between RMB 100,000 ($13,228) and RMB 500,000 ($66,138), and individuals directly involved will be fined between RMB 20,000 and RMB 100,000.

The current surge in shipbuilding has led to a 43% increase in China's shipbuilding output 7.55m dwt for the first half of this year.  [06/09/07]