By: Wei Shu and Elizabeth Hsu
Taipei, July 24 (CNA) The CSBC Corp., Taiwan, a government-invested shipbuilder headquartered in the southern port city of Kaohsiung, signed a contract Friday to construct four 1,800 20-foot equivalent unit (TEU) container vessels.
The deal is particularly precious for CSBC amid a lasting recession in most economies around the world, during which purchases of new boats are rarely seen in almost all business fields. Even when such deals are agreed upon, they are mostly orders for super-large container ships rather the smaller feeder vessels, the company said.
According to CSBC, in which the government holds a stake of around 30 percent, the buyer is Taipei-based T.S. Lines, which provides near-sea shipping services. [FULL STORY]