CPC Corporation Christens Company’s New Tanker at Shipyard in Taiwan

On July 28, 2011 the christening ceremony of the TONG YUN, company’s latest 40,000-ton tanker, was held at Keelung shipyard of CSBC Corp. a major and state-owned shipbuilder in Taiwan.

The ceremony was presided over by Chairmen Chu for CPC and Chairman Tang, Tay-Ping for CSBC; co-signing the certificate of acceptance was done by CPC Vice President Chang, Ray-Chung and CSBC Vice President Chen, Lie-Lin.

Vice Minister of MOEA, Mr. Lin Sheng-Chung and his wife, were invited to address and christen this new, environmentally-friendly tanker.

CPC Corporation, Taiwan is a state-owned petroleum, natural gas, and gasoline company in Taiwan and is the core of the Taiwanese petrochemicals industry.

CPC was founded on June 1, 1946 in Shanghai by the government of the Republic of China. With the Kuomintang retreat to Taiwan after the Chinese Civil War, CPC was transferred from the Council of Resources to the Ministry of Economic Affairs. Its main businesses include surveying, extracting, refining, transporting, and selling petroleum. It also produces various chemicals and has retail outlets all over Taiwan. CPC’s fixing of petrol prices helped Taiwan through the Energy Crisis. Taiwan’s petroleum industry was a CPC monopoly prior to the 1990’s, however deregulation allowed private firms to invest, leading to Formosa Plastics Group’s launch of CPC competitor Formosa Petrochemical Company.

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Source: CPC Corporation, August 15, 2011.