China Shipowners’ Association (CSA) released an announcement on July 10th in which it called on domestic cargo owners to cut their investments and capacities on their own shipping units and strengthen their co-operations with shipping companies.
The Ministry of Transport issued a regulation last October in which a cargo owner is only allowed to form one shipping joint venture. “But we found that some of the shipping companies established by cargo owners were still expanding their scales and capacities,” CSA said.
“We have submitted a proposal to Ministry of Transport about controlling the scale of shipping companies which are established by cargo owners in order to ensure the healthy development of the shipping market.” CSA said. [11/07/12]