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.
JITTERS: Nexperia has a 20 percent market share for chips powering simpler features such as window controls, and changing supply chains could take years European carmakers are looking into ways to scratch components made with parts from China, spooked by deepening geopolitical spats playing out through chipmaker Nexperia BV and Beijing’s export controls on rare earths. To protect operations from trade ructions, several automakers are pushing major suppliers to find permanent alternatives to Chinese semiconductors, people familiar with the matter said. The industry is considering broader changes to its supply chain to adapt to shifting geopolitics, Europe’s main suppliers lobby CLEPA head Matthias Zink said. “We had some indications already — questions like: ‘How can you supply me without this dependency on China?’” Zink, who also
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) received about NT$147 billion (US$4.71 billion) in subsidies from the US, Japanese, German and Chinese governments over the past two years for its global expansion. Financial data compiled by the world’s largest contract chipmaker showed the company secured NT$4.77 billion in subsidies from the governments in the third quarter, bringing the total for the first three quarters of the year to about NT$71.9 billion. Along with the NT$75.16 billion in financial aid TSMC received last year, the chipmaker obtained NT$147 billion in subsidies in almost two years, the data showed. The subsidies received by its subsidiaries —
At least US$50 million for the freedom of an Emirati sheikh: That is the king’s ransom paid two weeks ago to militants linked to al-Qaeda who are pushing to topple the Malian government and impose Islamic law. Alongside a crippling fuel blockade, the Group for the Support of Islam and Muslims (JNIM) has made kidnapping wealthy foreigners for a ransom a pillar of its strategy of “economic jihad.” Its goal: Oust the junta, which has struggled to contain Mali’s decade-long insurgency since taking power following back-to-back coups in 2020 and 2021, by scaring away investors and paralyzing the west African country’s economy.
RE100 INITIATIVE: Exporters need sufficient supplies of renewable energy to meet their global commitments and remain competitive, the economics ministry said Local export-oriented manufacturers, including Taiwan Semiconductor Manufacturing Co (台積電), require sufficient supplies of green energy to maintain their competitiveness and regulations already ensure that renewable energy development adheres to environmental protection principles, the Ministry of Economic Affairs said yesterday, as the legislature imposed further restrictions on solar panel installations. The opposition-led Legislative Yuan yesterday passed third readings to proposed amendments to three acts — the Environmental Impact Assessment Act (環境影響評估法), the Act for the Development of Tourism (發展觀光條例) and the Geology Act (地質法) — which would largely prohibit the construction of solar panels in some areas. The amendments stipulate that ground-mounted solar
RSS