Yang Ming boosts profits in 2022
Yang Ming reported US$3.41 billion in revenues in the third quarter of the year with the company’s profits after taxes reaching US$1.7 billion for the same period.
Additionally, in the first nine months of the year, Taiwan’s container carrier achieved US$10.79 billion in revenues and US$5.66 billion in profits after taxes. Yang Ming said its profits have significantly increased, compared to the same period last year, by 50.95%.
“In the first three quarters of 2022, the ongoing Russia-Ukraine war and global inflation surge had an impact on the container shipping industry,” stated the company.
Furthermore, Yang Ming noted that the unresolved port congestion and stalled US West Coast contract negotiations also added uncertainty in the supply chain.
“In the face of these challenges, Yang Ming will continue to maintain schedule integrity and remain cautiously optimistic in the fourth quarter,” concluded the carrier.