News / Yang Ming losses continue to mount after 2016 revenue slump

© Jason Row

Taiwanese ocean carrier Yang Ming has added a 2016 US$492m loss to the net deficit of $258m the previous year.

Revenue plunged to TWD115.4bn, from TWD127.6bn in 2015.

Lars Jensen, chief executive and partner at SeaIntelligence Consulting, today described Yang Ming’s financial performance as “very negative”.

Although all deepsea carriers had suffered a “bad year” in 2016, Mr Jensen said Yang Ming’s result compared unfavourably with its peers.

“To put the result into perspective, Maersk Line lost $384m and CMA CGM lost $452m. But it should be noted that CMA ...