CPC Corp, Taiwan's state-owned oil company, and its partners in a shipping venture planned to commission the building of six crude oil tankers and one oil product carrier to replace existing vessels.
The venture, in which the oil refiner will hold 48 per cent, may spend NT$30 billion (S$1.3 billion) on the vessels, CPC vice-president Lin Maw-wen said by telephone yesterday.
Taiwan-based shipping companies U-Ming Marine Transport Corp and Chinese Maritime Transport will each own a 26 per cent stake in the venture.
The vessels will replace CPC's existing fleet of 10 carriers to comply with international regulations, Mr Lin said.
The United Nations International Convention for the Prevention of Pollution From Ships was amended in 2003 to force ship owners to use double-hull vessels, following a November 2002 spill by the single-hull tanker Prestige off the coast of Spain.
The venture, in which the oil refiner will hold 48 per cent, may spend NT$30 billion (S$1.3 billion) on the vessels, CPC vice-president Lin Maw-wen said by telephone yesterday.
Taiwan-based shipping companies U-Ming Marine Transport Corp and Chinese Maritime Transport will each own a 26 per cent stake in the venture.
The vessels will replace CPC's existing fleet of 10 carriers to comply with international regulations, Mr Lin said.
The United Nations International Convention for the Prevention of Pollution From Ships was amended in 2003 to force ship owners to use double-hull vessels, following a November 2002 spill by the single-hull tanker Prestige off the coast of Spain.