About 1,600 ships worldwide are currently stranded in the Strait of Hormuz, including eight vessels operated by Taiwanese companies, per the Foreign Ministry. This Monday, Premier Cho Jung-tai (卓榮泰) instructed the Transportation Ministry to coordinate with foreign governments and Taiwanese businesses to help the vessels resume normal navigation as soon as possible.

The premier made these statements during a special meeting on ongoing developments related to the conflict in the Middle East. He noted that asphalt inventory stands at about 61,000 tons, so supplies should be sufficient through the end of July. Fertilizer, feed corn, plastics, and other key livelihood and industrial material supplies also are currently stable.

Regarding the supply of raw petroleum materials that typically transit Hormuz, Cho pointed out that CPC’s New No. 3 Naphtha Cracker petrochemical facility, which produces essential materials for plastics and manufacturing, is currently shut down for maintenance. He said he has asked the Economic Ministry to track schedules and demand, coordinate with industry, and stay in contact with Formosa Petrochemical until supply resumes on May 23.

To stabilize transportation costs, Cho said a taxi fuel price subsidy program is expected to launch on May 20. In addition, fares for highway buses, domestic shipping, and domestic flights will remain frozen for three months. The government has already absorbed part of the energy costs to stabilize fuel prices.

The premier emphasized that the government will continue to review and adjust its response measures as the situation continues to evolve.