Yangming Shipping's July revenue fell 7.8 percent month-on-month
Yangming Shipping releases first-half 2023 results. In the second quarter of 2023, the consolidated operating income in a single quarter was NT $35 billion, the net loss after tax was NT $0.13 billion, and the net loss after tax EPS was NT $0.04 per share. In the first half of 2023, the consolidated results showed that the operating income was NT $72 billion, the net profit after tax was NT $3.27 billion, and the net profit per share was 0.94. In the first half of 2023, the shipping market was mainly affected by inflationary pressure and global economic instability, and freight rates fell, this resulted in a decrease in operating income compared to the same period last year.
Looking to the future, according to the International Monetary Fund (IMF) this (2023) July world economic outlook data show that although this year's global economic growth rate revised to 3%, the overall inflation rate is also expected to drop from last year's 8.7 to 6.8 %, however, inflation pressure continues, central banks to fight inflation adopted by the interest rate hike policy on economic activities, the next two years the overall economic recovery momentum is still weak.
According to the forecast of supply and demand growth in the Alphaliner shipping market, the supply growth this year is 8.5 percent higher than the demand growth of 1.4 percent. The market is still showing an oversupply situation. High inflation has led to a decline in household purchasing power and the industrial chain is still destocking, resulting in weak demand. However, if the Russian-Ukrainian war comes to an end, the demand for reconstruction materials needed in the post-war recovery period is expected to increase the demand for container shipping. In the face of changes in supply and demand in the shipping market, Yangming Shipping will respond cautiously, pay close attention to trends such as global economic development, geopolitical impact, supply chain changes and environmental emission reduction requirements, and adjust its route layout and fleet planning in a timely manner to continuously improve its competitiveness and operating performance.
According to the latest Alphaliner data, Yangming Shipping ranks 9th among the world's top 100 liner companies in terms of capacity, operating 93 ships, including 51 self-owned ships and 42 chartered ships, with a total cabin capacity of 775000 TEU. In addition, Yangming Shipping holds 5 ships, totaling 77500TEU new shipbuilding orders.
Wanhai Shipping's July revenue rose 0.8 percent
Wanhai Shipping achieved a cumulative operating income of NT $58.26 billion (about 1.9 billion US dollars) in the first seven months of 2023, a year-on-year decrease of 67.6 percent.
In July 2023, Wanhai Shipping achieved operating income of NT $8.24 billion (about 0.26 billion US dollars), a year-on-year decrease of 65.6 percent and a month-on-month increase of 0.8 percent.
According to the latest Alphaliner data, Wanhai Shipping ranks 11th among the top 100 global liner companies in terms of capacity, with 124 ships in operation, including 115 own ships and 9 chartered ships, with a total cabin capacity of 455000 TEU. In addition, Wanhai Shipping also holds 25 ships, totaling 177000 TEU new shipbuilding orders.
Taiwan's three major liner companies monthly revenue trends
in short, Yangming Shipping fell 7.8 percent month-on-month in July, with revenue even lower than in May. Wanhai Shipping grew 0.84 percent month-on-month. After Evergreen Shipping's monthly revenue fell below NT $20 billion for the first time in February, it stopped falling and rebounded in March, rebounded moderately in April and May, fell slightly in June, and exceeded NT $23 billion in July, up 5.8 percent from the previous month.
To play: the shipping industry