rss icon Subscribe
desktop mobile

Yang Ming Posts Year-on-year Profit Increase

By Angkan Mukherjee

Yang Ming announced an increase in third quarter profits of 23.4 percent from the same quarter last year. At its board meeting on November 9, the company approved the financial report that showed revenues for the third quarter of 2017 rising to $1.2 billion from $958 million in the third quarter of 2016.

This was largely due to frieght rates increasing over the last few periods and higher that average demand during the annual peak season. Their volumes for the third quarter were reported at 1.2 million TEUs, an 11 percent increase from the same quarter last year.

The company also announced plans to expand its operations in the Mediterranean and South East Asia. Yang Ming is in talks with the Taiwan International Port Corporation to form a joint venture and invest in Indonesia. The project aims to provide logistics and shipping services to Taiwan based companies that trade with Indonesia.

The drive to bring in innovative technologies to streamline flow of containers and consiladate management structure has been responsible for the increase in profitablity. Growth in revenue and volume can also be attributed to better use of data analysis in booking cargo and revamped organizational protocols.

Nov 12, 2017

 

Container Ships

Hapag-Lloyd Adds Low Carbon Refrigerant Containers from Maersk

Hapag-Lloyd adds Star Cool Integrated containers chilled by low GWP refrigerant. Photo: Maersk Container Industry

To maintain and expand its container fleet, Hapag-Lloyd, a global container line, has purchased 3

Diana Shipping Reports 3Q Loss of $24.5 Mln

Photo: Diana Shipping

Greece-based Diana Shipping inc. on Tuesday reported a loss of $24.5 million in its third quarter

ZIM Pilots Blockchain-based Bill-of-lading

(File photo: ZIM)

ZIM said it has successfully completed a trial run of paperless bills-of-lading based on

Finance

Frontline Posts Q3 Loss as Tanker Rates Hit 4-year Low

(File photo: Frontline)

Frontline q3 net loss $‍24.1​ million.   Frontline q3 operating loss $‍​5.4 million (reuters poll

Diana Shipping Reports 3Q Loss of $24.5 Mln

Greece-based Diana Shipping inc. on Tuesday reported a loss of $24.5 million in its third quarter of of 2017. Its net loss attributed to common stockholders was $25.9 million.

Talos, Stone Energy Plan $2.5 Bln Merger

Talos Energy LLC and Stone Energy Corp, two U.S. exploration and production companies focused on the Gulf of Mexico, announced on Tuesday plans to merge and create a new company

Maritime Apps