Yang Ming posts Q3 net loss of $90m

The continuing weak container shipping market has hit Taiwan-based Yang Ming as it registered deep losses during the third-quarter, Seatrade Asia online reports.  The Taipei-listed container line suffered a net loss of NT$2.69bn ($89.93m), reversing from a net profit of NT$7.66bn in the same quarter of 2010. Revenue also fell to NT$25.43bn compared to NT$34.37bn a year earlier. In the first nine months of this year, Yang Ming accumulated net loss of NT$5.3bn. This compares to a net profit of NT$10.38bn in the corresponding period of 2010.