Ocean Carriers

Yang Ming Announces Half Year Financial Results of 2019

Yang Ming Announces Half Year Financial Results of 2019
Danny Gill

Yang Ming Marine Transport Corporation (Yang Ming) recently held their 338th Board Meeting to approve their half year financial report for 2019.

The consolidated revenues for the second quarter totaled NTD 40.4 billion (USD 1.3 billion), up 20.24% compared to the same period of prior year. Business volumes increased by 5% year-on-year to 1.35 million TEUs. Net loss for second quarter of the year was NTD 1.27 billion (USD 40.99 million).

Meanwhile, Yang Ming’s consolidated revenues for the first half of 2019 rose by 16.77% compared with the same period in the previous year to NTD 75.48 billion (USD 2.44 billion), an increase in business volume of 5% to 2.64 million TEUs. The net loss for the first half year was NTD 1.95 billion (USD 62.94 million).

As reported by Alphaliner, the container shipping market remains under pressure due to oversupply capacity in the first half year. According to Alphaliner’s latest projection for 2019, global throughput is estimated to grow at 2.5% while capacity is predicted to grow at 3.1%. Market demand is weaker than expected since the ongoing US-China trade conflict has weighed on the global economy. In addition, the slight rise in bunker fuel prices affected Yang Ming’s operating costs. Furthermore, the exercise of the new IFRS 16 accounting standard had a negatively impact on Yang Ming’s half-year profitability by around NTD 0.6 billion (USD 19.37 million). Consequently, the company’s operating performance was insufficient to yield profits in the first half of 2019.

Nevertheless, Yang Ming has reduced its financial losses significantly by 66.22% as compared to the previous year, largely due to the result of its strategies implementation and cost control. Furthermore, the Taiwan Ratings Corp. has affirmed a stable rating for Yang Ming’s outlook in the long term. This result reflects Yang Ming’s improved cost structure driven by its fleet optimization plan.

Since last year, Yang Ming has begun the deployment of its new eco-type containerships while returning some of its higher cost chartered vessels. Through its strategic fleet deployment along with THE Alliance’s expanded partnership and future new service network, Yang Ming will continue to enhance business competitiveness and provide global customer with more excellent and comprehensive service quality.

Ocean Carriers
Danny Gill

Danny is a Digital Marketing and Content Creation Manager for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Ocean Carriers

World's Largest Container Ship Completes First Voyage from Asia to Europe

MSC Rules Out Arctic Exploration on Environmental Concerns

Danny GillOctober 18, 2019
Yang Ming Forms Regional Hub in the Mediterranean

Yang Ming to Launch China – Vietnam – Cambodia Service

Danny GillOctober 18, 2019

CMA CGM Launch World’s Largest LNG-powered Container Vessel

Danny GillSeptember 26, 2019

MSC Garners Industry Recognition in Thailand

Danny GillSeptember 25, 2019
MSC Prepares as Cocoa Season Begins in West Africa

MSC Prepares as Cocoa Season Begins in West Africa

Danny GillSeptember 17, 2019
Yang Ming Forms Regional Hub in the Mediterranean

Yang Ming to Launch Japan-Thailand Service

Danny GillSeptember 13, 2019

ONE Further Expands Refrigerated Container Fleet

Danny GillSeptember 3, 2019
MSC Completes First Ever Shipment of Grapes from Spain to Vietnam

MSC Completes First Ever Shipment of Grapes from Spain to Vietnam

Danny GillSeptember 3, 2019
Ethiopia

CMA CGM to Attend Asia Fruit Logistica

Danny GillSeptember 2, 2019
LM is the leading source of logistics and cargo news within ASEAN and is regarded as one of the most authoritative sources of information. Our subscribers keep up to date with the latest logistics news, views, features and events within ASEAN and beyond.
AFL Real Logo

Airfreight Logistics is the air cargo professional’s number one provider of news and information in ASEAN and around the World. To keep abreast of all the latest news and for in-depth features visit our website www.airfreight-logistics.com

UpMedio

Subscribe to our newsletter!

© 2015 Logistics Manager | About Us | Advertise | Subscribe | Contact | thai Thai Version