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 Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Electronics

KVM for Ships, Harbors and Offshore

With the increasing application of IT installations in maritime environments, the requirements for optimized operation increase as well. KVM technology said it

UKHO ‘Living with ECDIS’ Seminars at Nor-Shipping

Seminar to include information on updated IHO ENC Standards   The United Kingdom Hydrographic Office (UKHO) has announced the details of its free-to-attend ECDIS Seminars at Nor-Shipping,

NSA Chief Urges 'Safe' Internet Under Equivalent of Law of the Sea

The U.S. National Security Agency chief called on Wednesday for an "open, reliable and safe" Internet governed by international rules akin to the Law of the Sea,

Shipbuilding

LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels,

Keel Laid for Russia’s Next Generation Icebreaker

The world’s biggest nuclear-powered icebreaker keel laying ceremony took place of at the Baltic Shipyard on 26 May 2015. Heads of Atomfflot, the Baltic Shipyard

Wärtsilä Bags BWM Systems Order from Jinhai Shipyard

Wärtsilä Corporation, has received an order for ballast water management systems (BWMS) for three new container ships being built for a major European shipping

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators
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: 0.1011 sec (10 req/sec)