Evergreen Marine reported a substantial 82.4% year-over-year increase in September revenue, reaching NT$44.64 billion (US$1.41 billion), despite a 16.97% month-on-month decline due to freight rate revisions. The Taiwanese container shipping giant’s performance reflects the volatile nature of the international shipping market.
The company’s third-quarter revenue surged 43% from the previous quarter to NT$152.79 billion (US$4.83 billion), while cumulative revenue for the first three quarters rose 67.9% year-over-year to NT$347.76 billion (US$11 billion). Analysts project strong profits for Evergreen in both Q3 and the first nine months of the year, with Q3 expected to outperform Q2.
As the industry enters its off-season, global carriers are adjusting capacity. Between September 30 and November 3, 100 sailing cancellations have been announced on major east-west routes, representing a 14% cancellation rate. This reduction in supply could help support freight rates in the fourth quarter.
The recent end of the U.S. East Coast port strike and potential economic stimuli in China and the U.S. may influence market conditions. However, the shipping industry remains subject to global economic trends and trade dynamics.
