Yang Ming announces annual financial results

Yang Ming has announced its financial results for 2018. Reporting consolidated revenues of NTD$*141.8bn, up 8.2% compared with NTD$131.08bn in revenue from the previous year. The company’s net loss, after tax, was NTD$6.59bn. Volumes in 2018 increased to 5,232 TEUs, up 11% year-on-year.

Yang Ming’s 2018 operating results were impacted by higher global bunker fuel prices, which increased by 31.2%. Despite the 11% volume growth due to strategies implemented in 2018, Yang Ming’s operating margins were affected by higher bunker costs. The company suggested market demand grew slower than supply, and that freight rates struggled to rise to levels that could set off against the higher bunker costs.

Source: Yang Ming

*NTD$30.57=$ / NTD$35.00=€