Yang Ming Marine Transport Corporation (Yang Ming) held its 401st Board Meeting on March 12, 2025, approving the financial statements for fiscal year 2024, according to the company's release.
The company reported consolidated revenues of NTD 222.71 billion (USD 6.94 billion) and a net profit after tax of NTD 64.18 billion (USD 1,999.35 million), with earnings per share (EPS) after tax of NTD 18.38.
The Board also approved a cash dividend distribution of NTD 7.5 per share. In 2024, the container shipping industry saw a net capacity increase of approximately 3 million TEUs, with supply growth exceeding demand.
Vessel rerouting due to the Red Sea crisis, port congestion, and economic growth in emerging Asian markets influenced market conditions, with the first three quarters showing increased cargo volumes and freight rates.
Yang Ming adjusted its service network and fleet deployment to maintain service reliability and leverage market opportunities.
The Board’s decision on the NTD 7.5 per share cash dividend reflects considerations of full-year profitability, a fleet renewal plan, and uncertainties in global trade.
The company is focusing on regional routes and emerging markets to refine its global service network and optimizing fleet deployment for efficiency. The vessel optimization plan includes up to six 8,000 TEU-class dual-fuel-ready vessels and up to seven 15,000 TEU-class LNG dual-fuel-fitted vessels, totaling thirteen vessels, to address energy risks and maintain flexibility in fuel options.
Yang Ming Marine Transport Corporation, founded in 1972 and headquartered in Keelung, Taiwan, operates a fleet of 101 container ships and 17 bulk carriers, serving over 70 nations with a focus on Asia, Europe, America, and Australia.