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Chinese shipping to transport more Chinese goods

China's Deputy Minister for Transport, He Jianzhong, signaled on Wednesday that the country's 2020 plan for the Chinese shipping industry will ensure that, going forward, Chinese carriers will handle a bigger part of the country's enormous foreign trade.

A lot indicates that China's government will in the coming years work toward ensuring that the country's own shipping industry gets a bigger share of China's enormous foreign trade. One of the means to achieve this involves a fleet renewal and securing more competitive carriers.

China's state subsidies for scrapping, adopted in December last year in an effort to get old ships out of the market and have them replaced with newbuildings, have removed 4.2 million dwt from the market in the first half of 2014. Chinese carriers ordered newbuildings corresponding to 9 million dwt in the same period, said the Chinese Deputy Minister for Transport He Jianzhong at a press conference in Shanghai on Wednesday.

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