Evergreen and Yang Ming Post Losses, Wan Hai Stays in Profit
- Business & Finance
The third quarter results of Taiwan’s big three container shipping lines were all impacted by the downturn in the industry, with only Wan Hai staying in the black.
The biggest one of the three, Evergreen, posted a TWD 2.56bn (USD 78.35m) loss against a profit of TWD 2.47bn reported for the same period of the preceding year.
The company’s revenue was also down from TWD 37.59 bn, reaching TWD 33.03bn. For the nine months, Evergreen recorded a net loss of TWD 759.6 million on the backdrop of last year’s profit of TWD 961.4 million.
The challenging market pushed Yang Ming into the red as well as the company recorded a net loss of TWD 4.2 bn against a profit of TWD 1.4 bn in the same period last year.
The company’s revenues stood at TWD 31.9 bn, down 14.5 percent when compared to the last year’s figures.
Only Wan Hai closed the third trimester of this year on a positive note, posting a profit of TWD 1 bn, but also down from last year’s TWD 1.82 bn.
In the first nine months of 2015, Wan Hai posted a profit of TWD 4.2 billion, up by 17.6 percent from last year.
World Maritime News Staff