China urges shipbuilders to venture abroad


SINGAPORE: China wants its shipyards to look actively for acquisitions overseas amid weak oil prices and freight rates that have led to declining orders for offshore rigs and vessels worldwide.

The government is encouraging shipyards to develop and build more offshore equipment, according to a plan for the five years through 2020 posted on the website of China’s Ministry of Industry and Information Technology.

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Business , china , ships

   

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