TAIPEI (Taiwan News) — Eight ships owned by Taiwanese operators are stranded in the Strait of Hormuz, Premier Cho Jung-tai (卓榮泰) said Monday.
During a meeting on developments in the Middle East, Cho instructed the transportation ministry to coordinate with the foreign ministry, foreign governments, and Taiwanese enterprises to develop a plan to bring the ships back, CNA reported.
Cho directed the economics ministry to monitor timelines closely and observe market demand. He also emphasized strengthening coordination with industry players, including maintaining close contact with Formosa Petrochemical Corp. to provide support if necessary and ensure overall supply stability.
Cho said asphalt supplies are sufficient through late July, while fertilizer and feed corn supplies remain stable. The government is assisting plastic bag manufacturers in securing necessary raw materials and maintaining inventory, he said.
Regarding transportation, Cho said fuel discount measures for taxis are scheduled to launch on May 20. Additionally, the government will implement a three-month price freeze on fares for intercity buses, domestic shipping, and aviation.
The government will subsidize the price difference to stabilize transportation costs, Cho said. The transportation ministry has been tasked with strengthening public outreach and completing preparations before the rollout to alleviate the burden on operators, he said.
The premier said the government has stabilized fuel prices by absorbing a portion of energy costs. As of Sunday, CPC Corporation has absorbed approximately NT$13.2 billion (US$417.14 million) in gasoline and diesel costs to mitigate the impact of international oil price volatility on domestic life.
Additionally, he requested that the justice ministry strengthen inspections into collusion and illegal monopolies and take action against suspicious activities. It must also investigate false information to maintain market order, he added.
Cho emphasized that the government will continue to conduct rolling reviews of all measures as the situation evolves.
