Premier directs ministries to assist shipping companies

Taipei, May 4 (CNA) Premier Cho Jung-tai (卓榮泰) on Monday instructed relevant ministries to coordinate assistance for Taiwanese shipping firms whose vessels are stranded due to the blockade of the Strait of Hormuz by Iran and the United States.

In a news release, the Cabinet said the premier convened a meeting on the situation, citing Ministry of Foreign Affairs (MOFA) data showing that about 1,600 vessels from various countries are currently stranded, including eight operated by Taiwanese firms.

Cho asked the Ministry of Transportation and Communications to coordinate with MOFA to maintain contact with foreign governments and Taiwanese shipping firms, and communicate assistance measures to help the vessels resume normal operations as soon as possible.

He did not elaborate on what measures might be adopted.

According to foreign media reports, U.S. President Donald Trump on Sunday said the United States would begin guiding commercial vessels out of the Strait of Hormuz, in an effort to keep the key shipping route open.

Meanwhile, Cho said Taiwan currently has 61,000 tonnes of asphalt in stock, enough to meet monthly domestic demand of 19,000 tonnes through the end of July. For plastic bags, he said the government is also helping manufacturers secure raw materials and maintain inventories.

Supplies of key commodities, including fertilizer, corn for animal feed and plastics, remain stable, he said, reiterating that the government will continue monitoring supply and demand and adjust measures as needed to ensure stability in agricultural production and livelihoods.

On transportation, the premier said a planned fuel discount scheme for taxis is expected to take effect on May 20, with simplified procedures to ensure smooth implementation. He added that fares for intercity buses, domestic shipping and domestic flights will be frozen for three months, with the government subsidizing the difference to stabilize prices.

Cho said the government has been absorbing part of rising energy costs to stabilize fuel prices, with CPC Corp. Taiwan having absorbed about NT$13.2 billion (US$417.38 million) in gasoline and diesel costs as of May 3, to cushion the impact of international oil price fluctuations.

During the meeting, the premier also asked the Ministry of Justice to strengthen investigations of price collusion and other illegal activities proactively, handle suspected violations and promptly clarify or investigate misinformation to maintain market order.