News / Strong second half gives Yang Ming newfound financial confidence

© Yali Shi

Like its industry peers, Yang Ming saw profits soar in the final quarter of last year, recording a surplus of $343m, pushing full-year net profit to $405m.

Despite a 6.6% decline in liftings, to 5.1m teu, the Taiwanese carrier’s turnover improved 1.4% year on year, to $5.11bn, as freight rates leapt in the second half of the year while fuel costs remained low.

Yang Ming achieved its first profitable quarter in over two years in Q3, after having racked up losses of ...