Evergreen back in black, but not as robust as north Asia rivals

TAIPEI`s Evergreen Marine has returned to profitability to post a net profit of US$513 million in 2010 against a $333 million loss the year before, with this year`s earnings drawn on revenues of $576 million, an increase of 13 per cent.

But pre-tax profits fell 81 per cent against those in 2009 to $2.8 million, noted London`s Containerisation International, following significant increases in operating costs of 16.5 per cent to $513.5 million.


While other Taiwan carriers Yang Ming and Wan Hai have not published 2010 results, Hong Kong-based OOCL increased its profits 19.7 per cent in 2010 while South Korea`s Hanjin was up 6.6 per cent and Hyundai profit increased 7.4 per cent.