Yangming Marine Transport Corp., a major container shipper in Taiwan, said the third quarter will decide corporate profitability this year, CENS reports.
Affected by slumping freightage and rising fuel costs, Yangming posted after-tax loss of NT$3.33 per share in 2011.
Taiwan’s second-largest container shipper, Yangming posted NT$9.399 billion in after-tax losses in 2011 due to slumping freightage on European-bound routes.
The company lost NT$4 billion in the fourth quarter of last year, the worst in 2011, but fared well compared with world-class shipper in the fourth quarter of last year.
Taiwan’s other major container shippers, including Evergreen Marine Corp. and Wan Hai Lines Ltd., also posted huge operating losses in the fourth quarter of last year. Evergreen posted after-tax loss of NT$3.092 billion in 2011, with after-tax loss of NT$3.359 billion in the fourth quarter.
Despite an operating loss in the fourth quarter of last year, Wan Hai was the only profitable container shipper last year with NT$20.3 million in after-tax earnings, or NT$0.01 per share, in 2011.
An executive of Yangming says the trend of fuel costs will decide the operations of domestic container shipper in 2012, with the company estimating fuel costs to account for over 30% of overall operating costs of container shippers.
Affected by slumping freightage and rising fuel costs, Yangming posted after-tax loss of NT$3.33 per share in 2011.
Taiwan’s second-largest container shipper, Yangming posted NT$9.399 billion in after-tax losses in 2011 due to slumping freightage on European-bound routes.
The company lost NT$4 billion in the fourth quarter of last year, the worst in 2011, but fared well compared with world-class shipper in the fourth quarter of last year.
Taiwan’s other major container shippers, including Evergreen Marine Corp. and Wan Hai Lines Ltd., also posted huge operating losses in the fourth quarter of last year. Evergreen posted after-tax loss of NT$3.092 billion in 2011, with after-tax loss of NT$3.359 billion in the fourth quarter.
Despite an operating loss in the fourth quarter of last year, Wan Hai was the only profitable container shipper last year with NT$20.3 million in after-tax earnings, or NT$0.01 per share, in 2011.
An executive of Yangming says the trend of fuel costs will decide the operations of domestic container shipper in 2012, with the company estimating fuel costs to account for over 30% of overall operating costs of container shippers.