Yang Ming Marine Transport Corporation (Yang Ming) today (11th May) held its 320th Board Meeting to approve its 2017 first quarter financial reports. The consolidated revenues total NTD 30.254 billion, with revenue up 11.56% from previous year. The business volume, 1,128,042 TEU, ups 14% from the same period of the previous year. The net loss of NTD 901 million (USD 29 million) represents a marked reduction of 75.3% compared to the same period last year.
 

Mr. Bronson Hsieh, Chairman of Yang Ming, and all colleagues of Yang Ming have put great efforts on financial improvement, starting from 2016 Q4, contributing to the significant improvement in operating performance. At the same time, they have continued to improve the company’s operating performance since 2016 Q3. Through a joint endeavor, they have introduced more cost control measures, such as abolishing loss-incurring shipping routes, cutting down on operation cost, reviewing the marginal contribution management, rationalizing agency business and organization. All these efforts have proved greatly effective. With the implementation of the above actions and the shortening of supply and demand gaps, the integrated improvement reduced by NTD 2.38 billion compared with the first quarter of 2016.
 

According to the recent report of Alphaliner, an internationally well-known maritime consultant, the supply of global container shipping industry in 2017 is estimated to grow 3.1%, and the demand is estimated to increase 2.9%, indicating the gap between supply and demand is narrowing. Drewry, Clarkson and other institutions’ analyses also point out that the shipping industry in the coming years after this wave of global economic trend correction will present an optimistic situation. The recent shipping index issued by the SCFI reflects the rise is in its high, indicating the whole shipping market is gradually recovering and rebounding from the bottom.