| CSBC to deliver 16 ships in 2015 |
| China Shipbuilding Corporation (CSBC), Taiwan’s largest shipbuilder, will deliver 16 newbuilds in 2015, the highest level since 2008, said CSBC president Chen Feng-lin on 17 April. Eleven newbuilds will be delivered by Kaohsiung yard and five by Keelung yard. Among these, three newbuilds by Kaohsiung yard and two by Keelung yard will be delivered in 2Q15, and the shipbuilder's orderbook will last till 3Q17, Chen said. However, the company remains conservative about its 2015 business outlook, since its orders are booked at relatively low prices, announced CSBC chairman Robert Lai at an investor’s conference on 17 April. According to Chen, newbuild prices have rebounded 8% from the first half of 2014, although a 15% rebound would be more reasonable. He added that low oil prices could be one factor capping the price increase. Yang Ming chairman Frank Lu said on 16 April that the company is considering placing an order for another five 14,000 teu vessels. CSBC will benefit if it can receive this order. CSBC posted a net profit in 2014 of TWD450.78 million (USD14.51 million), up 3.2% year on year (y/y) from TWD436.9 million. In the first three months of 2014, its revenue totalled TWD5.8 billion, down 19.05% y/y, according to the company’s fiscal report. CSBC is due to hand over the first 14,000 teu container vessel in 2016 to Taiwan’s second-largest container shipper, Yang Ming Marine Transport Corp, said Chen. To date, CSBC has delivered 300 ships to owners in and out of Taiwan, including CGM CMA, Evergreen, Maersk, PDS, Rickmes, SeaSpan, Wan Hai, and Yang Ming. The company is also involved in the construction of Fuhai wind farm in Taiwan, which is scheduled to be completed in 2017. |