Tuesday, 16/05/2023, 21:23 (GMT +7)
928
Yang Ming's profit exceeded 110 million USD in the first quarter of 2023
According to Yang Ming, demand in the global market tends to decrease due to the ongoing war in Ukraine, the continuous application of interest rate hikes by the US Federal Reserve and the current status of customer inventory, all of which have stalled the global economic recovery.
In addition, the shipping market in the first 3 months of the year suffered from slow shipping and limited operations due to the Lunar New Year holiday, factories adjusted shipping schedules and allocated manpower according to market demand, Yang Ming said in a statement.
As a result, the company's revenue was down for the whole quarter. "As different sectors gradually resumed business in March, there was a slight increase in the overall operation volume and the operation remained positive in the first quarter," noted Yang Ming.
On May 12, Yang Ming held the 383rd Board of meeting to approve the first quarter financial statements of 2023 and approve the procurement of LNG dual-fuel container ships.
The board meeting approved the conduct of further procurement procedures for five LNG dual-fuel container ships, in accordance with an open and transparent international bid evaluation process. With these new ships, Yang Ming believes that the carrier will be able to optimize its fleet allocation, enhance the overall competitiveness of the fleet, while operating sustainably and environmentally friendly by reducing energy consumption and carbon emissions.
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Source: Phaata.com (According to ContainerNews)
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