Post by on 2018-03-29
TAIWAN's Yang Ming Marine Transport's (YMM) reversed itself out of a 2016 net loss of TWD14.9 billion (US$511 million) with a 2017 net profit of TWD320 million (US$10.78 million), drawn on revenues of TWD131 billion, up 13.6 per cent year on year.
Yang Ming carried over 4.7 million TEU in 2017, up nine per cent, attributing the improvement to both the recovering shipping market, as well as "effort and dedication" of its employees.
Yang Ming also pointed to an economic forecast made this month by the Organisation for Economic Co-operation and Development (OECD), which has predicted global economic growth of 3.9 per cent in both 2018 and 2019, an improvement over the 3.7 per cent growth recorded in 2017.
"In addition to strengthening its operating strategies, such as management centralisation, Yang Ming has over the past year deployed strategies to optimise cargo structure, integrate information technology systems, and continuously train staff to improve knowledge and expertise," Yang Ming said.
THE Alliance deploys a total of 239 vessels with an aggregate capacity of 2.1 million TEUs across 31 services, according to BlueWater Reporting's Capacity Report.
Looking ahead, Yang Ming said it plans to "explore and develop new markets, optimise its fleet deployment, and take advantage of opportunities to minimise its operating costs and improve profitability, with the goal to provide customers with convenient and excellent delivery services."