Taiwanese container terminal operator China Container Terminal Corp. (CCTC) has appointed Yang Ming Marine Transport’s ex-chairman Bronson Hsieh as an independent director.
CCTC chairman Lin Hung Nien said that Hsieh’s appointment, announced at a shareholders’ meeting on 27 May, aims to tap on his expertise to expand its current terminal and container storage operations, as well as its expansion into wind power. Since Taiwan’s current president, Tsai Ing-wen, was elected in 2016, Taiwan has been investing in wind power facilities to reduce fossil fuel consumption.
Calling Hsieh an old friend in the industry, Lin stated that CCTC’s management has a number of former Yang Ming executives. CCTC general manager Wu Ying-chuan was Yang Ming’s chief strategy officer, while four of CCTC’s directors previously served at Yang Ming. Both companies also have a unique relationship as Yang Ming was among CCTC’s 10 founding shareholders.
In 1958, in response to containerisation, CCTC was established under the Ministry of Transport and Communications to operate terminals and provide support services, including container repairs. Subsequently, CCTC opened terminals in Kaohsiung, Taichung and Keelung, before becoming listed on the Taiwan Stock Exchange in 1995.
Martina Li
Asia Correspondent
