Print

Mail

wiki links

China Shipbuilding seals German order

State-run China Shipbuilding Corp (中船) has reportedly won a record order from a German company which is expected to bring in nearly NT$30 billion (US$934.3 million) in revenue for the nation's largest shipbuilder, according to a Central News Agency report yesterday which cited company sources.

The report said company president Fan Kuang-nan (范光男) signed the contract with Dole (IOM) Ltd on Wednesday.

Under the contract, China Shipbuilding will deliver six 6,300 TEU (20-feet-equivalent-unit) container ships and six 4,200 TEU container ships during 2009 and 2010, the report said.

It is the biggest order the Kaohsiung-based shipbuilder has ever received.

China Shipbuilding has a total of 58 ships in the pipeline over the next four years -- worth NT$100 billion in total revenue -- the report said.

China Shipbuilding has been moving aggressively in recent years ahead of its planned privatization this year. The company plans to complete its privatization by the end of this year, after years of delay, Fan said in an interview on April 11.

The current orders the company has secured have almost filled its existing capacity, a situation Fan said would keep it busy until the second quarter of 2009. As a result, the company plans to speed up its shipbuilding process to meet the increased demand, the report said.

China Shipbuilding reported sales of NT$19.3 billion last year and earnings of NT$711 million, according to company data.
This story has been viewed 1595 times.