Accumulating Capability Over Half a Century: CSBC Moves Towards Diversified Operations

離岸風電工作船「環海翡翠輪」

CSBC Corporation, Taiwan (hereinafter referred to as CSBC), hosted a media banquet in Kaohsiung today (22nd). Reflecting on the year 2023. As CSBC celebrated its 50th anniversary, it marked a challenging year and a crucial moment in diversifying its operations. Overcoming challenges such as the impact of the COVID-19 pandemic, the Russia-Ukraine war, and raw material inflation, the first offshore wind installation vessel, "Green Jade," was delivered on June 30th last year. Additionally, the domestically and internationally acclaimed indigenously built submarine SS-711 held its naming and launching ceremony on September 28th last year and is currently undergoing harbor tests.

CSBC Chairman Wen-Lon Cheng, representing "CSBC Coating Solutions Co., Ltd.," "CSBC Power Technology Co., Ltd," and "CSBC-DEME Wind Engineering Co. Ltd." (hereinafter referred to as CDWE), along with relevant executives from the 3 subsidiaries and joint ventures, held the "Annual Media Banquet" simultaneously in Taipei and Kaohsiung today (22nd). Cheng shared the future vision of the CSBC Group with investors and the community, steering towards a sustainable course for its centennial history.

CSBC Chairman Wen-Lon Cheng
(Photo source: EnergyOMNI)

（Left to right）SS-711｜Titan Vessel

Developing Energy-Efficient and Low Carbon Eco-Friendly Vessels
With the increasing global awareness of environmental protection and the progressively stringent regulations on ship exhaust emissions, shipping companies are actively constructing energy-efficient and environmentally friendly ship types. This surge in demand is particularly noticeable for newly built dual-fuel vessels, with Liquefied Natural Gas (LNG) and methanol being the dominant choices. CDWE's "Green Jade" and the Ministry of Education's training boat "Wind Rider" are examples of vessels that use LNG fuel.

Simultaneously, a proactive effort is to incorporate methanol-fueled commercial ships into the fleet. CDWE received fundamental approval for the design of a 2,500 TEU feeder container ship using methanol as fuel from Lloyd's Register of Shipping (LR) on December 5, 2023. LR emphasized that this approval signifies a significant milestone for Taiwan's shipbuilding industry, and CSBC is the only shipyard in Taiwan to receive such approval for fuel-powered vessels.

TaidaFloat

Steadying Marine Steel Structures Entering Floating Energy Storage
In the operation of CSBC's fleet, CSBS has recently acquired an Anchor Handling Towing Supply Vessel (AHTS), "Titan Vessel." The company ventured into deepwater floating wind turbines and collaborated with the National Taiwan University team to develop a floating platform structure and Mooring Systems named "TaidaFloat." On October 12, 2023, it received the approval certificate from the American Bureau of Shipping (ABS), aiming to commence commercial investment in 2026. Its subsidiary, CSBC Power Technology, has a track record in energy storage technology development, having completed a 5.7 MW energy storage container system project at the CSBC Kaohsiung facility. It will actively pursue MW-level energy storage system contracts from Taipower Company in the future.

CSBC's multi-year transformation strategy has yielded remarkable results by 2023. The revenue composition has shifted substantially, with the share from commercial ships decreasing from around 90% in the early stages to approximately 30%.

Photo source: CSBC｜EnergyOMNI