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

Marine Electronics

Google Maps Goes Coastal with Unmanned Boat

A new high-tech unmanned vessel, launched with the help of Google, will use innovative technologies from the boatbuilding and mapping fields to map shorelines and

Intelsat Records $598 mln Q2 Revenue

Satellite services provider Intelsat S.A. has reported total revenue of $598.1 million and net income attributable to Intelsat S.A. of $60.2 million, or $0.47 per common share on a diluted basis,

INTERSCHALT VDR Earns CCS Certification

INTERSCHALT maritime systems AG, the provider of maritime software, services and systems for navigation and communications systems (NavCom) and manufacturer of Voyage Data Recorder (VDR) systems,

Shipbuilding

GE Gas Turbines to Power US Navy’s New Destroyers

The U.S. Navy’s new DDG 121 and DDG 122 Arleigh Burke-class destroyers will be powered by eight LM2500 marine gas turbines supplied by GE Marine, who also received

Strategic Marine: Stock Program Full Power Ahead

Strategic Marine confirmed its stock program of personnel transport vessels is market-ready.  “Our stock program currently incorporates two class leading designs

GasLog Orders Two LNG Carriers

GasLog Ltd. today announced that it has ordered two new 174,000 cubic meter LNG carriers from Hyundai Heavy Industries Co., Ltd. ("Hyundai") in South Korea.

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1552 sec (6 req/sec)