With a net profit that jumped 147.7 % year-on-year in the first three months and 9.5 percent over the previous quarter, to $2 billion, Yang Ming can afford the luxury of being optimistic about the future.
Its quarterly revenue, a record 3.3 billion dollars, up 71.3% on the previous year, is what the world’s ninth-largest container shipping company has based its development expectations on.
The Taiwanese shipping line, with a fleet of 91 ships with a total capacity of nearly 700 thousand TEUs, expects solid demand throughout the remainder of the year.
In fact, the end of operational lockdowns in Shanghai and other Chinese cities, which had been imposed by the Beijing government to curb the spread of Covid, could encourage a new surge in demand for the shipment of unitized cargo, with a further increase in tariffs, especially in conjunction with the peak summer season.
Translation by Giles Foster
