Announcement of the Ministry of Transport on the Determination of the Allocation of Leasing Vessel Capacity

In order to support the development of small and medium-sized shipping companies, help companies to activate ship assets, ease financial pressure, and respond to the shipping market situation, the Ministry of Foreign Affairs has decided that for the financing of lease vessels that comply with the provisions of this announcement, in the international and domestic water transportation operation qualification management, Recognized as the shipping company's own capacity. The relevant matters are now announced as follows:

I. The term “finance lease ship” as used in this announcement refers to a ship that a shipping company sells a ship that has obtained international and domestic waterway transportation qualifications and then leases it back by way of a financial lease, or that has been approved to use a financial lease to add capacity.

Second, financial leasing The lessor shall obtain the financial leasing business qualification approved by the relevant state department according to law.

Third, the shipping companies apply for the financing of the lease of ships as their own capacity, the paid rent should not be less than 51% of the finance lease payables, and the financial leasing parties jointly confirmed in writing.

4. The shipping company shall sell the ships that have obtained the international and domestic waterway transportation qualifications to the financing leasing enterprise, and shall go through the procedures for ship trading at the ship trading service institutions announced by the Ministry of Transport.

5. When the shipping company handles the identification procedures of its own capacity, it shall submit the following valid certification materials:

1. Certificate of Ship Ownership Registration, Certificate of Ship Nationality, and Ship Inspection Certificate or Certificate of Classification for Ships for Financing Leasing Vessels.

2. Financial lease contracts and lessor’s financing lease eligibility documents.

3. Written confirmation documents of the leased parties on the rent paid by the lessee as a percentage of the finance lease payables.

4. For ships that are leased back after the sale by means of financial leasing, they should also provide the "Ship Business Transport Certificate" or "International Sea Transport Vessel Record Filing Certificate" and the transaction certificate issued by the ship trading organization.

6. For shipping companies and ships engaged in international waterway transportation, the provincial competent department of transportation shall report the preliminary examination opinions and all the application materials to our Ministry. The Ministry of Finance shall make the decision on the financing of the ship for the company's own capacity; Domestic shipping companies and ships transported by waterways shall be verified by the city-level competent department of transportation in accordance with the provisions of this announcement. They shall directly issue to the applicant a written confirmation of the company’s own capacity for the financing of leases.

7. In order to actively and steadily promote the policy of financial leasing vessels as their own capacity, starting from the date of promulgation of this announcement, Shanghai will be piloted first and a pilot shipping company registered in Shanghai will be implemented for one year. In the future, depending on the implementation effect of the pilot areas, it will continue to improve and expand the scope of pilots and gradually implement it throughout the country.

Special announcement.

Ministry of Transport September 27, 2012 The General Office of the Ministry of Transport issued on September 29, 2012