Yang Ming’s Passive Approach Can’t Prevent Falling Profitability — Panjiva


Yang Ming’s Passive Approach Can’t Prevent Falling Profitability

Corp - Shipping 610 Earnings 365 Global 723 Mode - Containerized 1006 Mode - Seaborne 1275

Container-line Yang Ming reported an 8.2% rise in revenues vs. a year earlier, including a 9.2% increase in volumes handled. That implies average achieved revenue per container fell by 1.0%. Global container shipping rates fell by a similar amount, suggesting Yang Ming has taken a relatively passive approach to market share. A similar effect can be seen in its U.S.-inbound volumes which rose 6.1% in the third quarter vs. an industry average of 7.6%. Like the rest of the sector however a surge in fuel prices resulted in a drop in profitability. Yang Ming’s EBITDA margin dropped to 2.3% vs...

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