Yang Ming Swings Back to Profit

Taiwan-based shipping company Yang Ming managed to close the third quarter of this year with a profit of TWD 1.26 billion (USD 42 million), compared with losses recorded in the same period of 2016.

As explained, Yang Ming’s improved financial status can be attributed to “a combination of strategic actions and initiatives designed to control operating costs and the concerted efforts of its team members worldwide”.

Coupled with a support from the company’s major shareholders, Yang Ming has reversed the losses of the previous quarters. To remind, the company posted net losses of TWD 901 million and TWD 445 million in the first and second quarter of 2017, respectively.

Yang Ming’s Q3 consolidated revenues were TWD 35.78 billion, surging 23.4% compared with the corresponding period last year when the company reported revenues of TWD 28.99 billion.

Volumes in the third quarter of this year totaled 1.24 million TEUs, a jump of 11.1% year over year.

In addition, the company’s earnings per share were TWD 0.7 and its net operating income year-to-date was TWD 0.5 billion. The company’s accumulated loss after tax for the same period was TWD 82 million, a 99% reduction compared to the same period last year.

As Yang Ming’s financial health continues to recover, the company said it looks for opportunities to expand operations and improve its service network.

In Southeast Asia, Yang Ming intends to partner up with the Taiwan International Port Corporation to jointly invest in Indonesia in an effort to upgrade shipping and logistics infrastructure. Additionally, Yang Ming will be establishing a Regional Operating Center to oversee the company’s operations in the Mediterranean and the Black Sea.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >