Taiwan’s Evergreen Marine Corp. reported its third consecutive monthly revenue decline in October, even as the figure jumped 77.7% from a year earlier.
The container shipping line’s revenue fell 7% to NT$41.5 billion ($1.3 billion) from September, reflecting slower cargo volumes during China’s Golden Week holiday and labor strikes at U.S. East Coast ports. The company’s year-to-date revenue reached NT$389.3 billion.
Freight rates showed signs of stabilizing in late October as post-holiday shipping demand picked up. The potential return of Donald Trump to the White House could spark another wave of pre-emptive shipping as businesses prepare for possible new tariffs, according to market observers.
The Taipei-based carrier is set to release third-quarter earnings on November 13. Analysts expect net income to hit NT$59.8 billion, with earnings per share of NT$27.67, buoyed by still-elevated freight rates despite the recent cooling in the market.
Industry watchers note that shipping lines’ capacity management has helped prevent a steeper decline in rates during the traditional low season.
