Evergreen Marine Corp reported a remarkable 57% jump in first-quarter net income to NT$27.36 billion (US$858 million), as easing trade tensions between the US and China sparked a rally in the company’s shares.
The Taiwanese shipping giant saw its Q1 consolidated revenue climb 24.07% year-on-year to NT$109.97 billion, while gross profit margin expanded by 8.9 percentage points to 30.28%. Earnings per share reached NT$12.64, up significantly from NT$8.14 in the same period last year.
The strong performance coincided with President Trump’s agreement to reduce tariffs on Chinese goods from 145% to 30%, with China reciprocally cutting duties on US products from 125% to 10%. This 90-day tariff relief period has reinvigorated US-China trade flows, strengthening demand for container shipping services.
Evergreen’s stock price surged 6.9% to NT$232.5 on May 13, supported by industry forecasts of stronger bookings ahead of the traditional peak season. Analysts expect the tariff reductions to reverse previous capacity cuts by carriers who had reduced sailings due to high tariffs. The resulting supply chain bottlenecks and container repositioning needs are likely to sustain spot rate increases, further bolstering Evergreen’s revenue prospects for the second quarter.
