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New measures to support shipping development

Updated : 2022-06-14 (chinadaily.com.cn)

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Ships dock at Zhoushan Port. [Photo/WeChat account: zjzsqdxq]

The municipal government of Zhoushan in East China's Zhejiang province recently introduced policy measures to support the high-quality development of the shipping industry.

The measures will expire on Dec 31, 2026.

The river-sea ships built in the city will receive an award equivalent to 5 percent of their costs, and shipyards that build more than five ships in two years will receive a subsidy equivalent to 10 percent of their costs, with each ship receiving up to 5 million yuan ($740,000).

The Zhoushan-model bunkering tankers and multipurpose marine service vessels in the city will receive subsidies equivalent to 5 percent and 10 percent of their costs, with each receiving up to 2 million yuan and 1 million yuan.

Marine service companies whose annual supplies (excluding bonded bunker oil and liquefied natural gas) are valued at 12 million yuan or more will receive a subsidy equivalent to 1 percent of the value of the incremental portion from last year.

Eco-friendly shipping projects identified as being conducive to peaking carbon emissions, carbon neutrality, and the eco-friendly shipping industry of the Yangtze River Economic Belt will receive a subsidy of up to 3 million yuan.

Zhoushan also supports universities to cooperate with local shipping companies to cultivate sailors and seeks to cooperate with cities in central and western China to train local residents to become sailors.

In addition, the city promotes the upgrading and transformation of the traditional shipping service industry by developing shipping insurance, exchange, consultation, and information services.