Date
22 August 2017

Chinese shipping sector seen on recovery track, paper says

China’s shipping industry is expected to recover this year on the back of supportive policies from the government, the China Securities Journal reported Monday, citing analysts. The government rolled out a set of measures last year to curb excessive capacity in the shipping industry and facilitate its upgrade, the paper noted. Helped by favorable policies, the shipping price index and new vessels orders both rebounded after hitting the bottom. The Baltic Dry Index was up 30 percent year-on-year at 1,193 points in 2013, while new vessel orders jumped 204 percent to 51.86 million dead weight tons in the first 11 months of last year, the report said.

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KZ/AC/RC

 

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