CSBC full up until 2012

Taiwan’s state-run shipbuilding company CSBC has received orders for 11 container ships, which boosts its total orders to 67 ships, enough to keep the yard busy until 2012. On Monday, CSBC signed a contract to build seven container ships for Taiwan’s Yangming Marine worth $800 million. The order consists of five 8,240 TEU and two 6,600 TEU container ships to be delivered before 2012.

The Yangming order comes at the heels of a European shipping company’s order for four 1,700 TEU container ships worth $250 million with the option for two more.

CSBC Taiwan, which is 99% state-owned, is seeking to become privatized by the lowering government stake to less than 50%. It hopes to achieve its goal of privatization before the end of 2008 by finding a local or foreign buyer or buyers.