Yang Ming Marine Transport Corporation (Yang Ming) has reported consolidated revenues of NT$52.59 billion ($1.65 billion) in Q2, a 50 per cent increase from the previous year.
The company’s after-tax net profit and EPS were NT$ 13.89 billion ($435.6 million) and NT$ 3.98, respectively. The combined revenues for the first half of 2024 totalled NT$ 96.39 billion ($3.02 billion), up 34 per cent from the same time previous year.
For this period, the company’s after-tax net profit was NT$ 23.27 billion ($729.82 million) and its earnings per share were NT$ 6.66.
Yang Ming stated that its profitability in the first half of the year was due to strong demand and higher freight rates compared to the same period last year.
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The company also reported that it intends to improve fleet management by optimising fleet resources, increasing service advantages, and tackling emission reduction trends.
To this purpose, Yang Ming has strengthened its strategic collaboration with shipowners, and the board approved the acquisition of two long-term contracted 11,000 TEU vessels on 12 August.
In addition to the previously purchased five 14,000 TEU and three 11,000 TEU vessels, this purchase will improve service competitiveness and simplify fleet resources.
Furthermore, it will aid in meeting emission reduction targets while also providing flexibility for future environmental retrofitting requirements, assuring regulatory and technical compliance.
