CSBC lands US$180 m. order from Taipower.Taipei, July 22, 2009 (CENS CENS Censor CENS Center for Embedded Networked Sensing (UCLA NSF) CENS Censorship CENS Centre d'Etudes Nucleaires de Seclay ) -- CSBC Corporation, Taiwan CSBC Corporation, Taiwan (台灣國際造船, literally "Taiwan International Shipbuilding"), CSBC for short, formerly known as China Shipbuilding Corporation recently signed a contract with the state-run Taiwan Power Company The Taiwan Power Company (Chinese: 台灣電力公司, also known as Taipower) is a state-owned electric power utility providing electric power to Taiwan and off-shore islands of Republic of China. (Taipower) to build four 93,000-ton Baltic Panamax freighters costing US$180 million. Wisdom Marine Lines S.A. also signed an agreement of intent to have CSBC CSBC California Southern Baptist Convention CSBC Canadian Safe Boating Council CSBC China Shipbuilding Corporation CSBC Center for the Study of Biological Complexity CSBC Conference of State Bank Supervisors build two such freighters. Wisdom was founded in 1999 and is currently one of the largest freighter owners in Taiwan. Over the past two weeks, CSBC has received orders for building eight ships successively from CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. Corp., Taiwan, Wisdom, and Taipower. Taipower said the 93,000-ton Baltic Panamax freighter each costs US$45 million, US$20 million lower than a year earlier. Edward K.M. Chen, chairman of Taipower, said the freighters will be delivered in 2011. Taipower has recently issued seven-year corporate bonds bearing 1.7% annual interest to finance the buying of the freighters. CSBC chairman W.L. Cheng noted his company will create 3,500 jobs due to the order from Taipower. Despite attaining only 2% of the total building cost in profit, CSBC will be able to save a lot in interest payment as Taipower has paid a sizable down payment. An institutional investor estimated CSBC will see NT$5 in earnings per share this year, which will reach between NT$3 and NT$4 in 2010. ((BS)) (GE) |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion