In a regulatory filing China Shipping Container Lines (CSCL) said it has received RMB 77.7m ($1.2m) from the Ministry of Finance following the disposal of seven ships that were torched between January 2013 and April 2014.
The company noted the 21,100-dwt bulker Xiang Pu(built 1985) was among the seven but didn’t identify the other six by name.
The operator also pointed out that the subsidies will have what it described as a “positive effect” on its bottom line in fiscal 2014 but failed to elaborate further.
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