TAIWAN's CSBC Corp is forecasting annual sales of N$30 billion (US$48.4 million) in 2012, an increase of 15 per cent compared to this year, on the back of steady orders from domestic carriers Yang Ming Marine Transport, Wan Hai Lines and Evergreen Marine Corp.

A report by Taiwan's China Economic News Service said institutional investors feel CSBC will reduce production costs in the first half of 2012 as global steel prices are expected to fall further.

In the first three quarters CSBC posted after tax earnings of N$41.52 billion on sales of N$21.2 billion.

The company is also shifting its focus next year to building high-margin containerships, rather than the smaller oil tankers and bulk carriers of the past.

It is expected to start building the first of five 8,250-TEU box ships on order by Yang Ming by year-end, and start building the other four from the beginning of 2012, with vessel deliveries to commence in the second half of 2012.