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HomeMaritime NewsRegionsAsiaEvergreen and Yang Ming reverse to full year loss, Wan Hai maintains profit

Evergreen and Yang Ming reverse to full year loss, Wan Hai maintains profit

Evergreen and Yang Ming reverse to full year loss, Wan Hai maintains profit
Taiwan’s container carriers Evergreen Marine and Yang Ming Marine Transport Corp have flipped into the red for 2015, while the largely intra-Asia carrier Wan Hai Lines has maintained a profit.

Evergreen, the country’s biggest line, posted a 2015 loss of TWD4.41bn ($136.63m), erasing its profit of TWD1.16bn in 2014 due to the sluggish global container shipping market of low freight rates and slowing demand growth.

Revenue for Evergreen dipped slightly to TWD133.81bn last year from TWD144.28bn in the previous financial year.

Yang Ming also reported red ink last year with a deficit of TWD7.72bn, reversing from the gain of TWD320.35m in 2014, while its revenue declined by 54.4% year-on-year to TWD127.56bn.

Compatriot Wan Hai, which operates mainly in intra-Asia, has produced a profit of TWD3.94bn for 2015, down 25% compared to TQWD5.25bn in 2014.

Wan Hai’s annual revenue was largely stable at TWD63.86bn compared to TWD66.97bn in 2014.

TAGS: Containers Regions Evergreen Wan Hai Lines
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