TAIWAN'S yang Ming Marine Transport posted a 266 per cent year-on-year first quarter net profit increase to US$298 million, drawn on quarterly revenues of $1.4 billion, up 17 per cent.
Taiwan's second-largest container line attributed good fortune to better-than-expected economic growth in the global economy and China, the latter boosted by government stimulus, and recovery in the US, India and other emerging countries. Inflation was easing in most economies, improving household purchasing power, Yang Ming said.
'Demand improved given the gradual enhancement in the Purchase Manufacturing Index (PMI) of major economies, smooth inventory destocking on the client side and manufacturers resuming production post-Lunar New Year,' the carrier said.
Freight rates were further bolstered as vessel capacity was absorbed due to vessels diverting around southern Africa to avoid Yemeni missile attacks in the Red Sea.
While economic prospects worldwide are improving, Yang Ming warned that escalating geopolitical conflicts 'could disrupt energy and financial markets, impacting the global economy significantly.'
There are also ongoing uncertainties around supply and demand in the container shipping sector. Alphaliner has forecast vessel capacity will grow 9.7 per cent this year against a three per cent increase in volumes.
SeaNews Turkey
Taiwan's second-largest container line attributed good fortune to better-than-expected economic growth in the global economy and China, the latter boosted by government stimulus, and recovery in the US, India and other emerging countries. Inflation was easing in most economies, improving household purchasing power, Yang Ming said.
'Demand improved given the gradual enhancement in the Purchase Manufacturing Index (PMI) of major economies, smooth inventory destocking on the client side and manufacturers resuming production post-Lunar New Year,' the carrier said.
Freight rates were further bolstered as vessel capacity was absorbed due to vessels diverting around southern Africa to avoid Yemeni missile attacks in the Red Sea.
While economic prospects worldwide are improving, Yang Ming warned that escalating geopolitical conflicts 'could disrupt energy and financial markets, impacting the global economy significantly.'
There are also ongoing uncertainties around supply and demand in the container shipping sector. Alphaliner has forecast vessel capacity will grow 9.7 per cent this year against a three per cent increase in volumes.
SeaNews Turkey
