Government Responses

Lately, many governments in Asia have come up with plans to lend a helping hand to the shipping or shipbuilding industry – sectors that they consider to pivotal to their country’s economic well being. In February, the Chinese State Council has approved a stimulus package for the domestic shipbuilders – largely aimed at stabilizing the orderbooks, reducing operating risks and regulating capacity of the shipbuilders. The plan has outlined six policies as summarised below:

Stablise shipbuilders’ orderbooks: By providing more financial support to shipowners, encouraging large shipping companies to adhere to their newbuilding delivery schedules and introducing policies to expedite vessel replacements

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