CSBC Corp, Taiwan (CSBC, 台灣國際造船) yesterday signed a “letter of agreement” with Chinese Maritime Transport Ltd (CMT, 中國航運) to build two 203,000-tonne capesize bulk ships, a company official said.
The two companies are expected to sign a formal contract on the US$129 million deal by the end of next month, CSBC president Paul Tang (譚泰平) said by telephone.
“This is the first order we have received so far this year,” Tang said.
The Kaohsiung-based firm is expected to deliver the two ships to CMT “no later than the first quarter or the second quarter of 2012,” based on the agreement, he said.
The global recession forced many shipping companies to delay their orders last year and only about one-third of shipbuilders’ orders worldwide were executed last year.
“While global trade is rebounding from recession levels, the outlook for the shipbuilding industry remains bleak this year,” Tang said.
Tang said he sees no clear sign of a strong recovery for the world’s shipyards over the next two to three years.
CSBC’s first-quarter revenue dropped 39.76 percent year-on-year to NT$5.91 billion (US$187.9 million), the company said last week. Last year’s revenue dropped 12.5 percent to NT$31.19 billion from the previous year.
CMT said in a separate filing that the vessels would help it expand its fleet and retire aging ships.
Tesla Inc temporarily halted some production at its auto assembly plant in California because of problems with its supply chain, but work has begun to resume, CEO Elon Musk told employees in an e-mail on Thursday. “We are experiencing some parts supply issues, so took the opportunity to bring Fremont production down for a few days to do equipment upgrades and maintenance,” Musk said in an all-staff message seen by Bloomberg. The factory was “back up and running as of yesterday,” and would rapidly ramp up to full production of Model 3 and Model Y cars “over the next several days,”
Boeing Co on Sunday called for the grounding of 128 of its 777 planes around the world as US regulators investigated a United Airlines Holdings Inc flight whose engine caught fire and fell apart over a suburban city. United and Japan’s two main airlines confirmed they had already suspended operations of 56 planes fitted with the same engine that fell apart mid-flight over Colorado on Saturday. The US National Transportation and Safety Board (NTSB) is also investigating the incident, in which no one was hurt. Boeing said similarly fitted planes should be taken out of service until the US Federal Aviation Authority
The production value of Taiwan’s semiconductor industry grew 20.9 percent year-on-year to NT$3.22 trillion (US$113.6 billion) last year, and it is expected to build on that performance this year, the Industrial Technology Research Institute’s (工研院) Industry, Science and Technology International Strategy Center said yesterday. The global semiconductor market grew 6.8 percent to US$440.4 billion last year, boosted by robust demand from the digital transformation and growing stay-at-home economy seen during the COVID-19 pandemic, the center said. That strength is likely to carry over to this year, leading to an 8.6 percent increase in domestic output to a new record NT$3.49 trillion,
‘MAINTAINING MOMENTUM’: The Swedish automaker might pursue plans for an initial public offering, which it had put on hold in 2018, the company said China’s Geely Automobile Holdings Ltd (吉利汽車) and its Swedish affiliate Volvo Cars are putting off earlier plans to merge, wagering that they would be more agile as standalone entities. The manufacturers would preserve their separate corporate structures, while cooperating more closely on electrification, autonomous-driving technology and software, a joint statement said. While they would no longer pursue a combination as announced last year, new listings could be on the table. “This is about maintaining top-line momentum,” Volvo chief executive officer Hakan Samuelsson said in an interview. “A merger isn’t always positive. You risk losing momentum because there’s too much internal focus.” Geely and