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Evergreen slips to Q1 loss of $118m

Evergreen slips to Q1 loss of $118m
Taiwan’s main carrier Evergreen Marine saw its first quarter results sank into the red amid challenging operating environment for container shipping.

Taipei-listed Evergreen booked a loss of TWD3.84bn ($117.67m) in the first quarter ended 31 March 2016, as against the profit of TWD1.53bn in the same period of 2015.

Revenue during the quarter went down to TWD28.6bn from TWD35.3bn in the year-ago period.

Evergreen also saw its first quarter operating costs of TWD31.28bn outstripping revenue, compared to TWD32.14bn in the previous corresponding period.