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Yang Ming’s volume & revenue up in Q1

 

Yang Ming Marine Transport Corporation (Yang Ming) held its 337th Board Meeting on May 14 to approve its Q1 financial report of 2019.

 

The consolidated revenues of Q1 totalled NTD 35.08 billion ($ 1.14 billion), up 13.02 per cent compared with NTD 31.03 billion ($ 1.07 billion) in revenue from previous year. The company’s net loss, after tax, was NTD 0.68 billion ($ 22.06 million), with an EPS of NTD -0.26. Volumes in 2019 Q1 increased to 1.29 million TEUs, up 5 per cent year over year.

 

Despite the traditional slack season in the first quarter and the rising operating cost resulting from the 11 per cent increase in oil bunker price compared to the last year, Yang Ming has cut down its losses by as much as 65 per cent. The financial report has shown continued year-on-year growth in both volume and revenue. The better-than-expected results can be attributed to dedication and teamwork within the Yang Ming group. The results also reflect the company’s execution of its strategies, emphasised a release.

 

Analyst firm Alphaliner recently forecast for 2019 a growth in supply at 3.1 per cent with demand rising at 3.6 per cent. This prediction signals an improving supply-demand market. With a brighter outlook, Yang Ming continues to adapt to market changes and adjust operating strategies in line with the direction of the market. As illustration, its fleet of new eco-friendly vessels is well prepared to meet with the upcoming IMO 2020 low-sulphur regulations. The company’s fleet optimisation plan is another example of its efforts to achieve its corporate social responsibility goals, while increasing its cost-efficiency and competitiveness in the market, the release added.

 

Source: Exim News Service: Seoul, May 14

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