All data are based on the daily closing price as of December 3, 2024

Yang Ming Posts 911% Profit Jump as Peak Season Boosts Demand

The shipping firm warns of mounting headwinds from trade protectionism and US policy uncertainty
Taiwan
y 2609.TW Mid and Small Cap 2000
Share this on

Yang Ming Marine Transport Corp. reported its strongest quarterly profit since late 2022, while cautioning about growing challenges from global trade barriers and political tensions.

The Taiwanese container carrier’s third-quarter net income surged 911% to NT$28.37 billion ($890 million), with revenue climbing to NT$72.84 billion. Earnings per share reached NT$8.12, marking the highest level since the fourth quarter of 2022.

The company’s performance benefited from traditional peak-season demand, though executives expressed concern about fourth-quarter headwinds. The end of the U.S. East Coast port strikes could intensify market competition, while pre-Lunar New Year shipping volumes remain uncertain.

Yang Ming plans to optimize its main routes through its Premier Alliance structure starting February 2025. However, the carrier faces industry-wide challenges, with Alphaliner forecasting new vessel capacity of 3.14 million TEU this year. The gap between supply growth of 5.8% and demand growth of 2.5% in 2025 may pressure rates.

The IMF projects 3.2% global economic growth for 2025, but Yang Ming cited risks from inflation, geopolitical tensions, and potential changes in U.S. trade policy after elections.

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top