China Shipbuilding sees higher profits

The state-run China Shipbuilding Corp (中船) announced yesterday its goal this year of increasing annual operating income to NT$24.4 billion (US$744 million) from last year’s NT$19.8 billion and the total tonnage of ships built from 120,000 to 180,000.

China Shipbuilding posted sales of NT$19.8 billion last year, with a NT$1.492 billion pretax surplus — NT$1.153 billion higher than the target set by the government, the Kaohsiung-based firm said.