Container Shipping Giants See Over 40% Revenue Growth in May, Optimistic for Second Half Growth

Reported 7 months ago

Container shipping leaders Evergreen, Yang Ming, and Wan Hai reported double-digit year-on-year revenue growth in May, with Yang Ming reaching 169.25 billion NT dollars and Wan Hai at 114.54 billion NT dollars, both marking new highs since late 2022 and early 2023. Looking ahead, they expect ongoing growth attributed to steady shipping volumes and rates, despite challenges like political tensions and congested ports impacting turnaround rates. Market demand, especially in the US and China, continues to drive growth, with Yang Ming mentioning the current Red Sea crisis and adverse weather affecting schedules and punctuality. With the global container fleet seeing a low idle rate, the industry remains cautiously optimistic for the upcoming months.

Source: YAHOO

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