"A merger has never been an option for Yang Ming, and it won't be," chairman Bronson Hsieh told a media event, Reuters reported. "Over the past 10 years, the five shippers with the highest profit margins have been smaller players. Smaller companies do not necessarily have to be merged," he said.
Loss making Yang Ming is currently the eighth largest container line in the world with a 2.8% share of capacity according to Alphaliner.
Similarly sized Orient Overseas Container Line (OOCL) is the latest box line to be subject of M&A talk with Cosco Shipping reported to be lining up a bid for the Hong Kong company.
In December Yang Ming sold its headquarters building for $59.6m as it looked to mitigate losses. Yang Ming is 33% state-owned and it has been suggested by Democratic Progressive Party (DPP) legislator that it be merged with Taiwan International Port Co.
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