News / Yang Ming still struggling, as it reports $30m Q3 loss despite improving market

© Yali Shi

Taiwanese ocean carrier Yang Ming recorded a net loss of $30m in the third quarter.

This leaves Hapag-Lloyd as the only vessel-sharing partner of THE Alliance in the black.

Yang Ming attributed the negative result – which extends its losses to $220m for the nine months – to “an unfavourable supply-demand balance with weakening freight rates and escalating bunker prices”.

Year-to-date, Yang Ming’s volume jumped by 11% to 3.92m teu, compared with 2017, but its revenue only improved 4% to $3.45bn, suggesting that it has sought market share ...