CSBC Says Profit May Fall on Low-Margin Ship Orders From Taiwan Government

CSBC Corp., Taiwan’s biggest shipbuilder, said profit may fall this year as it works through low-margin orders placed by government-owned companies during the global recession. “There’s no money to be made from these contracts,” President Paul Tang said in an interview in his Taipei office yesterday. Orders for tankers from refiner CPC Corp. and for coal ships from Taiwan Power Co. did help the shipyard weather the economic slowdown and a global slump in order, he said.