News / Yang Ming reports $27m loss for first quarter, as volumes decline

© Jason Row

Yang Ming recorded a $27m net loss for the first three months of this year. And that followed a loss of $144m for full-year 2019.

The Taiwanese carrier attributed the first-quarter loss to “weaker than expected” container volumes and an $11m loss by its dry bulk business.

Yang Ming’s Q1 liftings were down 4% on the same period last year, to 1.24m teu.

However, there was just a 1% decrease in group revenue, to $1.15bn, as freight rates increased to mitigate the impact ...