Yang Ming quarterly profit soars 282pc, Wan Hai leaps 179pc

TAIWAN`s Yang Ming posted a 282 per cent third quarter profit to US$340 million year on year while its smaller Taiwanese rival Wan Hai profit increased 178 per cent to $152 million in the same period.

Like their fellow Taiwan carrier Evergreen, both shipping lines have returned to profit in the third quarter compared to the same period last year because of a surge in volumes and rates.


Yang Ming`s revenue in the third quarter soared 152 per cent year on year to $2.7 billion, while operating profit EBIT reached $310 million from a loss of $427.6 million in the same quarter last year. Return on sales for the third was 11.4 per cent compared to minus 24 per cent in the same period last year.


Meanwhile, Wan Hai`s revenue in third quarter increased 39 per cent to $1.5 billion year on year, while the EBIT hit $253 million versus $29.3 million in the same quarter last year. Return on sales was 16 per cent versus last year`s 2.6 per cent.