Displaying items by tag: Chinese Coastal Trade
#ChinaCoastalTrade - Three foreign-flag boxships owned by Cosco Container Lines according to LloydsLoadingList.com, have recently won government approval to carry containers between Shanghai and other Chinese ports.
The move signals an official launch of Beijing's pilot project to liberalise the country's cabotage restrictions.
The vessels, 49,961 dwt Cosco Surabaya, 49,973 dwt Cosco Venice and 49,959 dwt Cosco Wellington — all Hong Kong-flagged — are the first batch of players granted such privilege, while ships owned by China Shipping Container Lines are also applying for the designation, according to the state-run news agency Xinhua.
Beijing announced in 2013 that it would permit Chinese carriers to ship international cargoes between Shanghai and other Chinese ports with their own vessels flagged abroad after registering them in the transport ministry, under a pilot programme to boost transhipment in Shanghai free trade zone. The aim was to promote Shanghai, already the world's busiest port, as an international shipping centre.
For more on this trade development, click HERE.