Yang Ming records another loss despite volume growth

Yang Ming recorded a net loss of NTD1.95bn (US$63m) during the first half of 2019, citing weaker demand owing to the US-China trade war along with market overcapacity.

The result actually means that the carrier has reduced its financial losses by 66% compared to last year, with consolidated revenues rising by 17% to NTD75.48bn (US$2.4bn). Business volumes also increased by 5% to 2.64m teu.

Explaining the losses, the Taiwan-based company cited Alphaliner’s projections for 2019, with global throughput estimated to grow at 2.5% while capacity is predicted to grow at 3.1%.