TAIWAN's wan Hai reversed itself from last year's US$65 million first quarter loss into a $142 million quarterly net profit drawn on revenues of $852 million, up 21 per cent year on year.
The improved result bodes well for Taiwan's two other big container lines, Yang Ming and Evergreen Marine, which will file their financial results later this month.
Container spot rates on the key markets Wan Hai serves, including Asia-North America, intra-Asia and Asia-Latin America have been steadily rising this year.
Freight forwarders say intra-Asia cargo volumes, both on short-sea regional trades and long-haul services to the Middle East, have been strong since January. Port congestion, especially in China, has caused carriers to blank sailings, tightening capacity and putting upward pressure on freight rates.
SeaNews Turkey
The improved result bodes well for Taiwan's two other big container lines, Yang Ming and Evergreen Marine, which will file their financial results later this month.
Container spot rates on the key markets Wan Hai serves, including Asia-North America, intra-Asia and Asia-Latin America have been steadily rising this year.
Freight forwarders say intra-Asia cargo volumes, both on short-sea regional trades and long-haul services to the Middle East, have been strong since January. Port congestion, especially in China, has caused carriers to blank sailings, tightening capacity and putting upward pressure on freight rates.
SeaNews Turkey
