Taipei: Premier Cho Jung-ta 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.
According to Focus Taiwan, the Cabinet announced that Premier Cho held a meeting to address the situation, referencing Ministry of Foreign Affairs (MOFA) data that indicates approximately 1,600 vessels from various countries are currently stranded, including eight operated by Taiwanese firms. Cho directed the Ministry of Transportation and Communications to collaborate with MOFA to maintain communication with foreign governments and Taiwanese shipping companies to facilitate measures that would allow the vessels to resume normal operations swiftly. However, Cho did not provide specifics on the potential measures to be implemented.
Foreign media reports indicate that U.S. President Donald Trump declared on Sunday that the United States would commence guiding commercial vessels out of the Strait of Hormuz to keep the crucial shipping route operational.
Meanwhile, Premier Cho assured that Taiwan has a stock of 61,000 tonnes of asphalt, which is sufficient to meet the monthly domestic demand of 19,000 tonnes through the end of July. For plastic bags, the government is assisting manufacturers in securing raw materials to maintain inventory levels. Supplies of essential commodities such as fertilizer, corn for animal feed, and plastics remain stable, with the government committed to monitoring supply and demand to adjust measures as necessary to ensure stability in agricultural production and livelihoods.
Regarding transportation, Cho revealed that a planned fuel discount scheme for taxis is set to be implemented on May 20, with simplified procedures to ensure effective execution. Additionally, fares for intercity buses, domestic shipping, and domestic flights will be frozen for three months, with the government subsidizing the difference to stabilize prices.
The government has also been absorbing part of the rising energy costs to maintain stable fuel prices. CPC Corp. Taiwan has already absorbed approximately NT$13.2 billion (US$417.38 million) in gasoline and diesel costs as of May 3, mitigating the impact of international oil price fluctuations.
During the meeting, Cho urged the Ministry of Justice to enhance investigations into price collusion and other illegal activities, address suspected violations, and promptly correct or investigate misinformation to preserve market order.