Taiwan International Shipbuilding denied reports yesterday that its business had collapsed after a prominent shipping line from Israel had canceled its orders. Zim Integrated Shipping Services Ltd. did cancel a plan to buy six ships from the company, but it still had more than 50 vessels left to build, vice general manager Wang Ko-hsuan told reporters. He promised there would be no layoffs for five years and no wage cuts.
The Kaohsiung-based former state-run company, once known as China Shipbuilding Corporation, said order books were still full until 2012. Media reports that it would have no ships left to build for 20 months starting from November were completely wrong, Wang said.
The company was looking for government orders and land-based projects, while deals with the Taiwanese navy were still under discussion, the official said.
Wang admitted the cancellation of the Zim order would have an impact on its sales division, but said the company was already launching talks for projects with Taiwan Power Corporation and oil giant CPC Corporation, Taiwan.
The shipbuilder's revenue for the first quarter had risen slightly to NT$9.8 billion compared to the same period last year, Wang said.
A contract with the navy to build 30 missile-armed speedboats was worth NT$12 billion, while the company had also been chosen to do repairs on other navy ships. Orders to build vessels for the Yang Ming Group and for Wan Hai Lines were valued at a total of more than NT$100 billion, Wang said.
The Kaohsiung-based former state-run company, once known as China Shipbuilding Corporation, said order books were still full until 2012. Media reports that it would have no ships left to build for 20 months starting from November were completely wrong, Wang said.
The company was looking for government orders and land-based projects, while deals with the Taiwanese navy were still under discussion, the official said.
Wang admitted the cancellation of the Zim order would have an impact on its sales division, but said the company was already launching talks for projects with Taiwan Power Corporation and oil giant CPC Corporation, Taiwan.
The shipbuilder's revenue for the first quarter had risen slightly to NT$9.8 billion compared to the same period last year, Wang said.
A contract with the navy to build 30 missile-armed speedboats was worth NT$12 billion, while the company had also been chosen to do repairs on other navy ships. Orders to build vessels for the Yang Ming Group and for Wan Hai Lines were valued at a total of more than NT$100 billion, Wang said.