News / Mega-profits will help carriers ride the wave of demand downturn

Cheng Cheng-mount. Photo: Elaine Chiang

Yang Ming chairman Cheng Cheng-mount said this week global economic uncertainty meant recovery in cargo volumes may not materialise within the first half of this year.

At the Taipei Shipowners’ Association AGM, of which he is also chairman, he said: “Originally, the market estimated that the global economy would improve in Q2 23, but now, we have to look forward to Q3, which means the market is highly uncertain.”

He added: “The US economy performed poorly in Q1, and Germany’s economic growth ...