News / 'Echoes of the pandemic' as Taiwan carriers enjoy a 'most profitable' Q2

Taiwan’s container lines all experienced positive second quarters: Evergreen, Wan Hai  and Yang Ming all reporting healthy upturns in profitability.

Evergreen saw quarter-on-quarter revenue jump up 20%, to $3.3bn, with operating profit of $1bn more than doubling that of the previous three-month period, and three times as high as in Q2 23.

Alphaliner noted: “The result has echoes of the pandemic period when transpacific specialists saw the most dramatic uplift in profits.

“As of end July, Evergreen operated 34% of its fleet on Far East-North America services and 37% on Far East-Europe. The result marks its most profitable quarter at an operating level since Q3 22, and far overshadows any previous profit outside the Covid era.”

Meanwhile, Wan Hai and Yang Ming saw their Q2 revenue climb 55% and 51%, respectively.

On revenue of $1.5bn, Wan Hai saw operating profit hit $335m, a stark improvement on the $52.4m loss recorded during the second quarter of 2023, and a five-fold quarter-on-quarter increase.

Yang Ming’s operating profit almost doubled, quarter on quarter, to $435m, with Alphaliner noting this represented an 800% year-on-year upturn, coming on the back of a 51% year-on-year boost in revenue, to $1.6bn.