EU will defend carriers and yards against Asian subsidies

Asian state subsidies are significantly impacting competition for European carriers and yards, says the EU Commission, which will defend the maritime industry against overproduction of vessels.

Photo: Hyundai Merchant Marine

The EU will do what is necessary to shield European carriers and yards from being impacted by the unfair subsidies from China and South Korea that can significantly distort competition.

This appears in a response from European Commissioner for Trade Cecilia Malmström, who suggests that state subsidies and overcapacity in the sector could undermine the EU's "shipbuilding companies and carriers."

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