Taiwan government to bolster Yang Ming

Taiwan’s government will increase its stake in Yang Ming, following doom-laden claims from analysts that the carrier could become the new Hanjin Shipping, which went bankrupt last year.

Yang Ming has instituted a recapitalisation plan, which will result in the Taiwanese government owning a larger share of the carrier, “well beyond the current approximate 33.3% held by the Ministry of Transportation and Communications of Taiwan (MoTC)”.

The plan aims “to provide immediate benefits to its balance sheets and improve on its liquidity”.