Taiwan Invites Stake in China Shipbuilding

Tuesday, September 27, 2005
The Taiwan Government is inviting bids for a majority stake in China Shipbuilding Corp, the island’s biggest shipbuilder, to help the company become more competitive and raise funds for public spending, according to a Bloomburg report.

The Government aims to sell a stake of between 51 per cent and 66 per cent in the company, the shipbuilder said in a statement published in Taipei’s Commercial Times. The stake offered includes three billion new shares.

The planned sale will release the company from policies and regulations that have constrained state-run companies, China Shipbuilding said in the prospectus to investors. Reducing state ownership to less than 50 per cent frees companies from having lawmakers review their budgets and from the Government’s management control.

State-run utility Taiwan Power Co hasn’t raised electricity fees for more than 20 years because of government opposition.

Companies or individuals interested in buying China Shipbuilding shares should submit bids before October 17, the statement said.

Investors from China and those companies in which mainland Chinese have stakes are barred from bidding. China Shipbuilding, based in Taiwan’s largest port Kaohsiung, has two shipyards and makes about 2 per cent of the world’s ships, according to the prospectus.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Electronics

Radio Holland Wins Contracts for Canadian Coast Guard Vessels

Radio Holland Canada has won two major contracts to support the Canadian Coast Guard. Public Works and Government Services Canada, which is responsible for government procurement,

Essberger Fleet Moves to Marlink’s Sealink VSAT Service

The Hamburg headquartered John T. Essberger (JTE) Group will migrate the primary communication systems of its entire fleet to Sealink, Marlink’s global maritime broadband VSAT service.

ECDIS Related Detentions on the Rise

ClassNK has been informed by Australian Maritime Safety Authority (AMSA) that during PSC inspections it has been increasingly reported that vessels have been detained

Shipbuilding

VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, has taken delivery of the ECO VLCC the Gener8 Constantine on June 27,

Future LCS Charleston’s Keel Authenticated

A ceremony was hosted to celebrate the keel authentication of the U.S. Navy's future USS Charleston (LCS 18), the ninth Independence variant littoral combat ship, June 28.

Hybrid RoPax Ferry Delivered to Royal TESO

Hybrid RoPax ferry Texelstroom has been delivered to Koninklijke N.V. Texels Eigen Stoomboot Onderneming (Royal TESO).   This latest generation symmetrical ferry is powered by efficient,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0671 sec (15 req/sec)