Yang Ming Marine Transport Corporation (Yang Ming) has reported strong financial results for the first quarter of 2022, posting revenues of NTD 106.7 billion ($3.5 billion).
The sum accounts for an increase 71.32 per cent compared with NTD 62.28 billion ($2.1 billion) from the same period of previous year.
The company’s net profit totalled NTD 60.58 billion ($2 billion) after tax.
As released, the record results were driven by higher level of freight rates resulting from solid demand, persistent COVID-related port congestion and pre-Chinese New Year cargo rush.
Last month, Yang Ming took delivery of the 11,000 TEU YM Trophy vessel to provide efficient transport between Asia and the Pacific Southwest.