Evergreen Marine's president addresses global port congestion and investment strategies amid geopolitical tensions and climate challenges.
Geopolitical tensions compounded by climate change have rendered global port congestion a particularly acute challenge this year. Evergreen Marine Corporation President Wu Kuang-hui stated publicly that even as global capacity increases, the practical effect of that growth is being offset by port congestion. Evergreen Marine will pursue terminal investment opportunities with greater urgency, positioning the company to establish a presence at key terminals worldwide.
Wu offered this assessment while analyzing the outlook for European trade lanes. Freight rates on European routes remain subdued as carriers gradually resume Red Sea transits. Wu noted that geopolitical risks in the region persist, with Asia-Europe sailings typically routing outbound via the Cape of Good Hope and inbound through the Suez Canal; however, severe global port congestion has materially diminished the practical benefit of additional capacity.
On the outlook for the trans-Pacific trades, Wu indicated that cargo volumes through November are highly encouraging, with December representing the peak pre-holiday shipping season. 'With respect to the U.S. trades, there is no reason for pessimism ahead of Chinese New Year next year,' Wu stated. He further noted that import volumes at several major U.S. ports have reached historic highs, and that importers may elect to build inventory levels, thereby supporting continued strength in U.S. import demand.
Wu nonetheless cautioned that anticipated Federal Reserve rate increases could exert downward pressure on U.S. trade demand in the coming year. Additionally, the labor contract covering U.S. West Coast dockworkers is set to expire in 2028, with fresh negotiations expected to commence in the second half of next year; the implications of those talks for capacity stability and schedule reliability will warrant close monitoring.
Evergreen Marine delivered strong revenue performance in September, recording revenues of NT$49.71 billion (approximately US$1.56 billion), representing year-on-year growth of 63.8 percent. For the first nine months of the year, the company accumulated revenues of NT$338.45 billion (approximately US$10.60 billion), an increase of 15.4 percent over the same period in the prior year.
