News / New accounting rules put an expensive dampener on Yang Ming results

© Jason Row

Yang Ming today posted a net loss of $139m for 2019, as a 4% increase in volumes could not offset losses attributed to new accounting rules.

The Taiwanese carrier’s revenue was also up, by 5% on the previous year, to $4.8bn earned from carryings of 5.4m teu.

It said that without the bookkeeping negative its strategic decision to not exercise its options on the return to owners of 14 “high-cost chartered vessels”, there would have been a $45m improvement to its bottom ...