Shin Yen-Shiang
The landmark opening of direct shipping routes between China and Taiwan will save millions of dollars on logistics costs for the shipment of petrochemicals and may possibly improve cross-straits trade according to industry sources.
The Cross-Straits Sea Transport Agreement signed between top officials from the China’s Association for Relations Across the Taiwan Strait (ARATS) and Taiwan’s Straits Exchange Foundation (SEF), will open direct travelling routes between 11 Taiwanese and 63 Chinese ports.
Taiwan’s Economic Affairs department head Shih Yen-Shiang has estimated an approximate cost savings of New Taiwan dollars (NT$) 300,000 ($9,160) per voyage with the opening on such a travel route.
There is a potential NT$1.2 billipn in annual savings based on an average 4,000 voyages per year between ports of the island and the mainland.
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Source: ICIS