Yang Ming Marine Transport swung to a net loss in the first half, as soaring fuel costs wiped out higher investment and dividend income, reported Dow Jones Newswires.
Yang Ming Marine, Taiwan's second largest container shipping company by revenue after Evergreen Marine, said its net loss for the six months ended June 30 was US$89.92 million, compared with a net profit of $93.36 million in the same period of 2010.
Revenue fell 0.7 percent to $1.66 billion from $1.67 billion in the same period in 2010, while operating costs rose 13 percent to $1.74 billion from $1.54 billion.
Yang Ming Marine, Taiwan's second largest container shipping company by revenue after Evergreen Marine, said its net loss for the six months ended June 30 was US$89.92 million, compared with a net profit of $93.36 million in the same period of 2010.
Revenue fell 0.7 percent to $1.66 billion from $1.67 billion in the same period in 2010, while operating costs rose 13 percent to $1.74 billion from $1.54 billion.