HAINAN, China's island province, has provided cash incentives for logistics companies to parley more ocean carriers to call at Hainan's Yangpu Port and Economic Development Zone, reports the Russian news agency Tass.
The new set of rules also establishes criteria for the registration of ships, cargo and new sea transport routes for the Yangpu port.
Logistics companies that can provide up to 12 regular containership calls on new international routes per year, a bonus of US$2 million will be provided.
In the second year, its size will be $1.3 million. For domestic routes in the first year, the bonus will $848,700, if the company provides at least 24 containership calls on new routes. In the second year, its amount is set at $617,200.
The port's administration has also announced "stability awards" in securing a certain annual volume of container traffic along new routes. Its maximum payout will be $617,200 for the transportation of up to 40,000 TEU a year along one international route in the Port of Yangpu.
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