• 2019 August 14 13:09

    Yang Ming announces half year financial results of 2019

    Yang Ming Marine Transport Corporation (Yang Ming) held its 338th Board Meeting on August 13th, 2019 to approve its half year financial report for 2019.

    The consolidated revenues for the second quarter totaled NTD 40.4 billion (USD 1.3 billion), up 20.24% compared to the same period of prior year. Business volumes increased by 5% year-on-year to 1.35 million TEUs. Net loss for second quarter of the year was NTD 1.27 billion (USD 40.99 million).

    Meanwhile, Yang Ming’s consolidated revenues for the first half of 2019 rose by 16.77% compared with the same period in the previous year to NTD 75.48 billion (USD 2.44 billion), an increase in business volume of 5% to 2.64 million TEUs. The net loss for the first half year was NTD 1.95 billion (USD 62.94 million).

    As reported by analyst firm Alphaliner, the container shipping market remains under pressure due to oversupply capacity in the first half year.

    According to its latest projection for 2019, global throughput is estimated to grow at 2.5% while capacity is predicted to grow at 3.1%. The market demand is weaker than expected since the ongoing US-China trade conflict has weighed on the global economy. In addition, the slight rise in bunker fuel prices affected Yang Ming’s operating costs. Furthermore, the exercise of the new IFRS 16 accounting standard had a negatively impact on Yang Ming’s half-year profitability by around NTD 0.6 billion (USD 19.37 million). Consequently, the company’s operating performance was insufficient to yield profits in the first half of 2019.

    Nevertheless, Yang Ming has reduced its financial losses significantly by 66.22% as compared to the previous year, largely due to the result of its strategies implementation and cost control. Furthermore, the Taiwan Ratings Corp. has affirmed a stable rating for Yang Ming’s outlook in the long term. This result reflects Yang Ming’s improved cost structure driven by its fleet optimization plan.

    Since last year, Yang Ming has begun the deployment of its new eco-type containerships while returning some of its higher cost chartered vessels. Through its strategic fleet deployment along with THE Alliance’s expanded partnership and future new service network, Yang Ming will continue to enhance business competitiveness and provide global customer with more excellent and comprehensive service quality.




2020 January 24

12:01 CMA CGM announces PSS for reefer exports from Ecuador to Europe, Baltic, Mediterranean, Middle East & Asia
11:00 MAN Energy Solutions wins contract to supply the main propulsion engines for two patrol vessels
10:33 The ShipFC project to convert offshore vessel to run on ammonia-powered fuel cell
10:22 MABUX: Bunker market this morning, Jan 24
09:31 Brent Crude futures price is up 0.35% to $62.26, Light Sweet Crude – up 0.4% to $55.81
09:14 Baltic Dry Index is down to 576 points

2020 January 23

19:00 Chembulk Tankers announces management changes
18:27 KOTUG provides salvage assistance to MV EM-OINOUSSES
18:07 Ocean Installer awarded contract with Dana Petroleum
17:42 Almost 290 cruise liners will call at Ports of Stockholm in 2020
17:37 NYK-operated coal carrier Sunshine Pride enters service for Joban Joint Power
17:19 Throughput of port Helsinki (Finland) in 2019 fell by 2% to 14.42 million tonnes (table)
16:48 Draft Strategy for Development of Russia’s Arctic Zone to be ready by 20 March 2020
16:05 The AUTOSHIP project receives funding of almost Euro 20.1 mln
15:21 probunkers signs LOI with Hyundai for the construction of two LNG bunker vessels
15:16 Perspectives for containers and ro-ro market discussed in Berlin
14:40 New intermodal train connection arranged from Luxembourg
13:37 Container Terminal Saint-Petersburg spent RUB 11 million under its social and charity programmes in 2019
13:03 Global Ports Group to renew handling equipment
12:29 Russia's Main Department of State Expertise approves reconstruction at the port of Petropavlovsk-Kamchatsky
12:05 Port of Long Beach moves more than 7.6 million TEU in 2019
11:48 Croatian DIV Group in process to take-over Kleven Verft
11:00 Austal awarded A$15.5m contract for a 41 metre high speed catamaran ferry for SGTM Mauritius
10:56 MABUX: Bunker market this morning, Jan 23
10:27 ABS marks record-setting three years without a work-related lost time injury
10:25 IBIA: IMO 2020 preparations pay off
10:03 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:46 TransContainer dispatched test train with hazardous cargo in reefers from Korea to Poland
09:24 Baltic Dry Index is down to 623 points
09:08 Swissterminal and DP World enter strategic partnership
08:36 CMA CGM introduces NETWORKING INTERMEDIATION SERVICES

2020 January 22

18:37 BunkerTrace secures first commercial partnership with Marfin Management
18:07 MAN Cryo to supply icebreaking RoRos with fuel gas supply system
17:45 Throughput of Chinese sea and river ports in 2019 grew by 5.7% YoY to 13.95 billion tonnes
17:20 Ships of RF Navy’s Northern Fleet approached the Strait of Tunis
17:06 Boluda Towage Europe introduces 1st retrofit of conventional tug complying with IMO TIER III Standards in Zeebrugge
16:56 Russian-Japanese anti-piracy exercise successfully completed in the Arabian sea
16:05 European shipping industry urges the revival of Operation Sophia
15:38 Marubeni and Klaveness join forces to create the world’s leading dry bulk Panamax pool
15:23 IMO Secretary-General calls for renewed cooperation at Davos forum
14:57 Positive steps for Somalia’s maritime sector
13:40 Medium sized sea tanker Akademik Pashin entered service with the Baltic Fleet
12:52 Bunker prices are slightly down at the port of Saint-Petersburg, Russia (graph)
12:29 Nonius Engineering supports 7th International Forum of Dredging Companies as its Sponsor
11:44 NIBULON’s fleet transported a record number of cargoes by Ukrainian rivers in 2019
11:19 DNV GL’s Technology Outlook 2030: Digital acceleration and climate change
11:01 IMO Secretary-General assesses progress on sulphur limit implementation
10:58 NIBULON’s non-self-propelled B1500 Project vessel made its first cargo trip
10:36 Nibulon achieved record export results in 2019
10:13 Representatives of Russian and Japanese Navies held briefing on board Baltic Fleet’s guard ship
10:10 MABUX: Bunker market this morning, Jan 22
09:51 Ministers of the Government of the Russian Federation appointed
09:32 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:15 Baltic Dry Index is down to 689 points

2020 January 21

18:27 ABS and Hyundai Heavy Industries complete landmark smart functions JDP
18:07 Mystic orders four more Explorer Class Polar expedition vessels
17:43 Outer Port is among main topics of Polish-Japanese economic cooperation
17:19 Wärtsilä LNG Bunkering & Fuel Supply System Simulator launched to raise training levels
17:18 BCT ends 2019 with highest every cargo handling of 500 000 TEU
16:55 Letter of Intent signed between Port of Gdynia Authority S.A. and Pelixar S.A.