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U-Ming full year profit plunges 61%

Taiwan’s U-Ming Marine Transportation Corporation saw its full year profit sliced after a difficult year for dry bulk shipping in 2015.

Lee Hong Liang, Asia Correspondent

April 4, 2016

1 Min Read

Kalyakan - stock.adobe.com

The dry bulk shipowner recorded a profit of TWD824.4m ($25.5m) last year, a plunge of 60.5% from TWD2.09bn in 2014.

The annual revenue also declined by 13.8% year-on-year to TWD7.73bn.

The drop in earnings was mainly due to a larger unrealised loss on valuation of available-for-sale financial assets of TWD975.54m accounted in 2015, compared to the deficit of TWD590.35m in the previous year.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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