China awards four carriers state subsidies for scrapping
Cosco and China Shipping Container Lines (CSCL) are among the carriers that have been awarded close to USD 300 million by the Chinese government in state subsidies for scrapping.
BY OLE ANDERSEN
China has awarded four of the country's carriers, including Cosco, USD 293.3 million in direct state subsidies. The funds will be used for scrapping outdated ships and upgrading the existing fleet, say the four carriers according to Reuters.
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