Taiwan's FPG to benefit from recent Taiwan-China shipping agreement

06-Nov-08

The recent agreement signed between Taiwan and China regarding the shipment of commercial vessels is expected to benefit Taiwan's Formosa Plastics Group (FPG) and save company's US$76.05 mln per annum of delivery and loading costs, reports Taiwan News. As per the agreement, Taiwan's deepest port, Mailiao Port in Yunlin County which serves the company's Sixth Naphtha Cracker will be permitted to activate direct links with Chinese ports providing shipments across China's 63 ports without having to redirect through Ishigaki, Okinawa. The port encompassing 476 hectares has 20 docks out of total 30 docks built by FPG for its Sixth Naphtha Cracker.