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MOT expected to open up the Chinese ship classification access market

BEIJING
2015-09-18 16:38

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China's Ministry of Transport (MOT) stated in a file that Chinese ships and water facilities for sailing abroad should report to the Chinese maritime safety authority for approval when applying for joining two or more classification societies, reported Xinhua-run cnstock.com Friday.

MOT released the file to invite public comments on Thursday. Prior to the file, Chinese ships for sailing abroad must join the China Classification Society (CCS) and in practice, there are hardly any Chinese ships owning memberships in two classification societies.

Industry experts guessed that if the file was nodded, China might open up the Chinese ship classification access market, likely to benefit some related stocks of China CSSC Holdings Limited (600150.SH) and CSSC Steel Structure Engineering Co., Ltd.(600072.SH)

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