Yang Ming records US$2 billion in annual net profit

Taiwan’s major ocean carrier Yang Ming Ming reported consolidated revenues of US$6.94 billion and a net profit after tax of US$2 billion, resulting in earnings per share (EPS) after tax of NT$18.38.

The company delivered strong operational performance and profitability throughout the year with the board also approving a cash dividend distribution of NT$7.5 per share.

In 2024, the container shipping industry showed a net capacity increase of approximately 3 million TEUs, leading to supply growth outpacing demand, and amid these conditions, factors, such as vessel rerouting due to the Red Sea crisis and congestion at key ports, helped absorb excess capacity.

Additionally, the robust economic performance of emerging Asian markets contributed positively to global economic growth.

Yang Ming noted that the first three quarters of 2024 were marked by favorable market conditions with rising cargo volumes and freight rates. In response to these dynamics, the Taiwanese box line optimized its service network and fleet deployment, ensuring service reliability and capitalizing on market opportunities to enhance operational performance.

Source: Container News

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