Yang Ming Volume and Revenue Up in Q1, but Suffering Net Loss

Damas Jati - Yang Ming, 12/05/2018, 20:54


Yang Ming Marine Transport Corporation (Yang Ming) enjoyed a volume growth and revenue growth in first quarter (Q1) 2018, but it suffered a net loss of USD 67 million, the company report said as quoted by hellenicshippingnews.

The report that has been approved by the Board Meeting on 11th May said that this shipping line handled   as much as 1.22 million TEUs in Q1, up 9% year over year. Its consolidated revenues of Q1 totaled USD 1.07 billion, up 2.58% compared with USD 1.04 billion in revenue from previous year. But, the company’s net loss, after tax, was USD 67 million, said the report.

Under an improving container shipping market, Yang Ming has returned to profitability last year. In spite of the typical first quarter slack season, the financial report has shown continued year-on-year growth in volume and revenue which was better than expected, and also demonstrates the progress of Yang Ming’s strategy and global efficiency enhancement.

With the new containership capacity scheduled to be delivered in 2018, the record levels of capacity is expected to slightly exceed demand. Yang Ming remains conservative on the outlook of the 2018 container shipping industry.

The recent forecast from Alphaliner indicates that, despite the oversupply situation in 2018, it is expected that demand will catch up with supply in 2019, possibly bringing an end to overcapacity. Meanwhile, Yang Ming will continue to strengthen its business strategies and optimize fleet deployment to deliver better service networks and sustainable competitiveness advantage to customers worldwide.

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