Deeper in the red: Yang Ming results in Q3
Keelung-founded Yang Ming Marine Transport witnessed lower revenues and a larger loss in Q3/2019 than in the same period last year. Operating revenue during the third quarter of 2019 amounted to 37.78 billion NTD (New Taiwan Dollars, USD 1.22 billion), a decline of 2.4% from USD 38.72 billion in the same 2018 period.
Its loss in Q3/2019 surged to NTD 1.29 billion (USD 42 million) compared to a loss of NTD 804 million (USD 26.4 million) in Q3/2018, a downshift of 37%. Volumes did better. The carrier handled 1.44 million teu in Q3/ 2019, about 2% more than in the same period in 2018.
The Taiwanese company now plans to reshape the nature of its fleet. It has redelivered 13 of its most costly chartered vessels and plans to redeliver an additional five ships in the course of 2020. (fd)