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Evergreen back in black with US$1.29 billion Q1 profit

EVERGREEN Marine Corp, Taiwan's biggest ocean container carrier moved into the black in the first quarter with a TWD$36

12 May 2021 - 19:00
EVERGREEN Marine Corp, Taiwan's biggest ocean container carrier moved into the black in the first quarter with a TWD$36.08 billion (US$1.29 billion), representing a significant improvement from the TWD$0.09 loss per share over the same period of last year.

Evergreen's first quarter EPS also topped the NT$5.06 in EPS the company earned for the entire year of 2020, data showed.



Due to a lack of containers and shipping services worldwide, the freight rate on the route from the Far East to Europe, prices hit a new high of US$4,678 per TEU.



In addition, the freight rate for the route from the Far East to the east coast of the United States rose TWD$617 or nine per cent to hit US$7,036 per FEU while the freight rates on the route from Far East to the west coast of the US fell $415 to $4,608 per FEU.


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