Yang Ming reported second-quarter consolidated revenues of US$ 1.65 billion, translating to a year-on-year increase of 50%. The company’s after-tax net profit and EPS reached US$435.6 million and NT$3.98, respectively.
Additionally, the ocean carrier’s consolidated revenues for the first half of 2024 grew by 34% to US$3.02 billion, while its after-tax net profit and EPS for this period were US$729.82 million and NT$ 6.66, respectively.
The strong demand and increased freight rates were the main drivers of the improved financial results in the first six months of 2024.
In response to the volatile shipping market, Yang Ming said it aims to enhance its service competitiveness. The Taiwanese line wants to strengthen its fleet management by optimizing fleet resources, improving service advantages and addressing emission reduction trends.
Therefore, Yang Ming has deepened its strategic partnership with shipowners and the board has authorized the purchase of two long-term chartered 11,000 TEU vessels. In addition to the previously acquired five 14,000 TEU and three 11,000 TEU vessels, this purchase is expected to strengthen service competitiveness and streamline fleet resources. Furthermore, it is expected to help address emission reduction requirements and provide flexibility for future environmental retrofitting needs, ensuring compliance with regulatory and technical standards.