Yang Ming chairman predicts that container throughput will improve by the middle of the year

The chairman of Yang Ming - Bronson Hsieh - believes that the current decline in container shipping volume worldwide is only temporary, expected to improve in April or May 2020.

Hsieh, who temporarily assumed the role of general manager of the Taiwanese shipping line after reforming its senior management, spoke at the company's annual press conference.

He said container shipping volume is expected to be higher in April or May and shipping lines will calculate their shipping capacity later.

Alphaliner predicts that this year, the supply of container lines will increase by 3.5%, while demand for container shipping will increase 2.2%. However, Hsieh said that fuel costs and COVID-19 outbreaks could affect these forecasts.

He said: Last year, the rate of installing global air purifiers was 12%. This year, this ratio is 19%, which means more and more ship owners want to install this equipment. As the price of fuel oil has a lower sulfur content than that of high sulfur fuel oil, more and more ship owners will be installing this filter.

There are many air purifiers being installed by Chinese shipyards, where operations have been slowed during the COVID-19 outbreak. The installation process usually takes 45 days to complete, but at the present time, it takes up to 80 days.

Based on this, Hsieh predicts that Alphaliner's supply growth forecast will decline.

Twenty ships of Yang Ming are waiting to install air purifiers.

He also introduced a new management team. Dannis Lee, former CFO of Yang Ming - was transferred to Singapore and Mr. Lee's position was taken by He Hsiu-chi, the manager of the company's Public Relations department. The company's former strategic director, Pai Kun-rong, was moved to Greece, and his successor was Tu Shu-chin (formerly Yang Ming's business director). Chang Shao-feng - formerly of Yang Ming's European group - replaced Tu.

Hsieh said, “Although it was a 'new' team, they were all old faces of Yang Ming. They are senior officials who have served Yang Ming for over 20 years. ”

Phaata (Source: Martina Li, Asia Correspondent / Container-news)

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