Evergreen Group (長榮集團) founder Chang Yung-fa (張榮發) yesterday rebutted a report that his group’s container shipping unit would pull out of Kaohsiung Port to save money.
“How could Evergreen withdraw its operations from the fifth container wharf of Kaohsiung Port given that Kaohsiung is an irreplaceable operating base in southern Taiwan?” Chang said in Singapore, where he arrived on Monday for a five-day visit.
Evergreen Group owns Evergreen Marine Corp (長榮海運), the nation’s largest container shipping company by revenue.
A TV station had reported that Evergreen might halt operations at Kaohsiung Port and instead launch services at a container wharf at Taipei Port that is jointly operated by Evergreen, Wan Hai Lines Ltd (萬海航運) and Yang Ming Marine Transport Corp (陽明海運).
Pulling out of Kaohsiung would save Evergreen up to NT$3 billion (NT$88.2 million) a year in rental fees, the report claimed.
Chang is in Singapore to inspect Evergreen’s operations and promote Morals Monthly Digest, a magazine he launched in January last year and distributes for free to promote traditional moral values.
Chang also announced the launch of Evergreen Marine (Singapore) Pte Ltd and plans to bring 13 ships presently flying the Panamanian flag to Singapore, where they will be registered.
One of the vessels began flying Singapore’s flag earlier this month.
In the future, the company’s Singapore-based fleet will increase to around 50 vessels, Chang said.
Evergreen pulled out of Singapore in 2002, saying the port fees were excessive, and moved its fleet to Malaysia.
The company said in December it would return to the city-state to take advantage of Singapore’s Approved International Shipping Enterprise scheme.
Under the program, international shippers that establish their operations in Singapore get 10-year tax holidays on qualifying shipping income.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, booked its first-ever profit from its Arizona subsidiary in the first half of this year, four years after operations began, a company financial statement showed. Wholly owned by TSMC, the Arizona unit contributed NT$4.52 billion (US$150.1 million) in net profit, compared with a loss of NT$4.34 billion a year earlier, the statement showed. The company attributed the turnaround to strong market demand and high factory utilization. The Arizona unit counts Apple Inc, Nvidia Corp and Advanced Micro Devices Inc among its major customers. The firm’s first fab in Arizona began high-volume production
VOTE OF CONFIDENCE: The Japanese company is adding Intel to an investment portfolio that includes artificial intelligence linchpins Nvidia Corp and TSMC Softbank Group Corp agreed to buy US$2 billion of Intel Corp stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions. The Japanese company, which is adding Intel to an investment portfolio that includes artificial intelligence (AI) linchpins Nvidia Corp and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), is to pay US$23 a share — a small discount to Intel’s last close. Shares of the US chipmaker, which would issue new stock to Softbank, surged more than 5 percent in after-hours trading. Softbank’s stock fell as much as 5.4 percent on Tuesday in Tokyo, its
COLLABORATION: Softbank would supply manufacturing gear to the factory, and a joint venture would make AI data center equipment, Young Liu said Hon Hai Precision Industry Co (鴻海精密) would operate a US factory owned by Softbank Group Corp, setting up what is in the running to be the first manufacturing site in the Japanese company’s US$500 billion Stargate venture with OpenAI and Oracle Corp. Softbank is acquiring Hon Hai’s electric-vehicle plant in Ohio, but the Taiwanese company would continue to run the complex after turning it into an artificial intelligence (AI) server production plant, Hon Hai chairman Young Liu (劉揚偉) said yesterday. Softbank would supply manufacturing gear to the factory, and a joint venture between the two companies would make AI data
The Taiwan Automation Intelligence and Robot Show, which is to be held from Wednesday to Saturday at the Taipei Nangang Exhibition Center, would showcase the latest in artificial intelligence (AI)-driven robotics and automation technologies, the organizer said yesterday. The event would highlight applications in smart manufacturing, as well as information and communications technology, the Taiwan Automation Intelligence and Robotics Association said. More than 1,000 companies are to display innovations in semiconductors, electromechanics, industrial automation and intelligent manufacturing, it said in a news release. Visitors can explore automated guided vehicles, 3D machine vision systems and AI-powered applications at the show, along
RSS