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Yang Ming completes second quarter with over US$4 million loss

Taiwanese ocean carrier Yang Ming announced revenue of US$1.15 billion and reported net loss of US$4.27 million in the second quarter of the year. However, the company achieved a profit of US$107.04 million in the first six months of 2023 with consolidated revenues in the same period reaching US$2.36 billion.

“The maritime industry in the first half of the year was impacted mainly by inflation and uncertainty in the global economy. Additionally, freight rates declined compared to the same period last year, leading to a decrease in revenue compared to the corresponding period last year,” commented Yang Ming.

The container shipping company said that according to Alphaliner’s growth forecast, the overall supply is predicted to grow by 8.5% this year, surpassing the demand growth of 1.4%. “As such, oversupply still dominates the maritime market, which is caused by high inflation weakening household purchasing power and demand due to ongoing inventory liquidation within industrial chains,” pointed out Yang Ming.

“However, once the Russia-Ukraine conflict comes to an end, the need for reconstruction materials during the post-war recovery period is expected to boost container shipping demand,” added the Keelung-based ocean carrier.

Source: Container News

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Yang Ming achieves record annual revenues and profits

Yang Ming Marine Transport Corporation marked new records in its annual revenues and profits in 2022 with the Taiwanese ocean carrier reporting consolidated revenues of US$12.61 billion and after-tax profits of US$6.06 billion.

However, the board of directors of Yang Ming approved maintaining the cash dividend at NTD 20 (US$0.65) per share, “given the uncertainties of the shipping industry and the company’s commitment to sustainable operations.

Strong demand and high freight rates were the main factors that led Yang Ming to record financial results, but since the last quarter of 2022, purchasing power has been diminished by inflation and high inventory levels.

However, Yang Ming sees a potential improvement in economic activity, mentioning the International Monetary Fund’s (IMF) January report which has raised the global economic growth forecast for 2023 to 2.9%, which is higher than its October forecast last year.

Yang Ming added, “As China lifts restrictions and the gradual reduction of inventory, it might stimulate overall economic activity. These factors are likely to create a relatively positive environment for the shipping industry in the second half of the year.”

Source: Container News

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Yang Ming adds new 11,000 TEU container vessel

Yang Ming Marine Transport Corp. has added one new 11,000 TEU container vessel, namely YM Trillion, which is chartered from Shoei Kisen Kaisha, Ltd. and built by Imabari Shipbuilding Co., Ltd.

YM Trillion was named and delivered to Yang Ming at a ceremony held at Imabari Marugame Shipyard on 21 September.

YM Trillion will be deployed on Yang Ming’s Trans-Pacific service PN3 and is expected to maximise capacity utilisation.

The port rotation of PN3 is Hong Kong – Yantian – Shanghai – Pusan – Vancouver – Tacoma – Pusan – Kaohsiung – Hong Kong.

To further strengthen Yang Ming’s mid- to long-term operational efficiency, the Company ordered a total of fourteen 11,000 TEU newbuildings through long-term charter agreements with ship owners. With the delivery of YM Trillion, all fourteen 11,000 TEU ships have joined Yang Ming’s fleet.

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THE Alliance unveils updated service network for 2022

THE Alliance, comprising Hapag-Lloyd, Ocean Network Express (ONE), Yang Ming and HMM, has announced an updated service setup, which will be effective from spring 2022.

Among several modifications, a key change will be de-linking the FP2 pendulum loop into two separate services, namely FE5: South East Asia to Europe and PS7: South East Asia and South China to Transpacific West Coast.

Another important update is the introduction of a modern series of fuel-efficient 11,000 TEU vessels, which will replace older and smaller container ships on the most frequented services.

“This reflects THE Alliance’s continued commitment to lower carbon footprints,” said the alliance partners in a joint statement.

The service network of THE Alliance for 2022 will have the following rotations:

Asia and North Europe

  • FP1 remains as pendulum of Asia – Europe and Asia – Transpacific West Coast trades

Rotation: TPWC – Tokyo – Shimizu – Kobe – Nagoya – Tokyo – Singapore – (Suez) – Rotterdam – Hamburg – Le Havre – (Suez) – Singapore – Kobe – Nagoya – Tokyo – TPWC

  • FE2

Rotation: Shanghai – Ningbo – South PRC – South PRC – Singapore – (Suez) – Tangier – Southampton – Le Havre – Hamburg – Rotterdam – (Suez) – Singapore – Shanghai

  • FE3

Rotation: South PRC – Xiamen – Kaohsiung – South PRC – (Suez) – Rotterdam – Hamburg – Antwerp – Southampton – (Suez) – Singapore – South PRC – South PRC

  • FE4

Rotation: Qingdao – Pusan – Ningbo – Shanghai – South PRC – (Suez) – Algeciras – Rotterdam – Hamburg – Antwerp – (Algeciras) – Tangier – (Suez) – Singapore – Qingdao

  • FE5 (New)

Rotation: Laem Chabang – Cai Mep – Singapore – Colombo – (Suez) – Rotterdam – Hamburg – Antwerp – London Gateway – (Suez) – Jeddah – Singapore – Laem Chabang

Asia and the Mediterranean

  • MD1

Rotation: Qingdao – Pusan – Shanghai – Ningbo – South PRC – Singapore – Jeddah – (Suez) – Damietta – Barcelona – Valencia – Genoa – Damietta – (Suez) – Jeddah – Singapore – South PRC – Qingdao

  • MD2

Rotation: Pusan – Shanghai– Ningbo – Kaohsiung – South PRC – Singapore – (Suez) – Piraeus – Genoa – La Spezia – Fos – Barcelona – Piraeus – (Suez) – Singapore – South PRC – Pusan

  • MD3

Rotation: Pusan – Ningbo – Shanghai – South PRC – Singapore – Jeddah – (Suez) – Ashdod – Istanbul – Izmit – Aliaga – Mersin – (Suez) – Jeddah – Singapore – Kaohsiung – Pusan

Transpacific – West Coast

  • FP1 remains as Pendulum of Asia – Europe and Asia – Transpacific West Coast trades

Rotation: Europe – Singapore – Kobe – Nagoya – Tokyo – Los Angeles/Long Beach – Oakland – Tokyo – Shimizu – Kobe – Nagoya – Tokyo – Singapore – Europe

  • PS3 remains as Pendulum of Asia – Indian subcontinent and Asia – Transpacific West Coast trades

Rotation: Nhava Sheva – Pipavav – Colombo – Port Kelang – Singapore – Cai Mep – Haiphong – South PRC – Los Angeles/Long Beach – Oakland – Pusan – Shanghai – Ningbo – South PRC – Singapore – Port Kelang – Nhava Sheva

  • PS4

Rotation: Xiamen – South PRC – Kaohsiung – Keelung – Los Angeles/Long Beach – Oakland – Keelung – Kaohsiung – Xiamen

  • PS5

Rotation: Ningbo – Shanghai – Los Angeles/Long Beach – Oakland – Tokyo – Ningbo

  • PS6

Rotation: Qingdao – Ningbo – Pusan – Los Angeles/Long Beach – Oakland – Kobe – Qingdao

  • PS7 (New)

Rotation: Singapore – Laem Chabang – Cai Mep – South PRC  – South PRC – Los Angeles/Long Beach – Oakland – South PRC – Singapore

  • PS8

Rotation: Shanghai – Kwangyang – Pusan – Los Angeles/Long Beach – Oakland – Pusan – Kwangyang – Incheon – Shanghai

  • PN1

Rotation: Xiamen – Kaohsiung – Ningbo – Nagoya – Tokyo – Tacoma – Vancouver – Tokyo – Kobe – Nagoya – Xiamen

  • PN2

Rotation: Singapore – Laem Chabang – Cai Mep – Haiphong – South PRC – Tacoma – Vancouver – Tokyo – Kobe – Singapore

  • PN3

Rotation: South PRC – South PRC – Shanghai – Pusan – Vancouver – Seattle/Tacoma – Pusan – Kaohsiung – South PRC

  • PN4

Rotation: Qingdao – Ningbo – Shanghai – Pusan – Prince Rupert – Tacoma – Vancouver – Pusan – Kwangyang – Qingdao

Transpacific – East Coast (via Panama and Suez Canals)

  • EC1

Rotation: Kaohsiung – South PRC – South PRC – Shanghai – Pusan – (Panama) – Manzanillo – Savannah – Charleston – Norfolk – Manzanillo – (Panama) – Rodman – Kaohsiung

  • EC2

Rotation: Qingdao – Ningbo – Shanghai – Pusan – (Panama) – Cartagena – New York – Norfolk – Wilmington – Savannah – Charleston – Cartagena – (Panama) – Pusan – Qingdao

  • EC4

Rotation: Kaohsiung –South PRC – Cai Mep – Singapore – (Suez) – New York – Norfolk – Savannah – Charleston – New York – (Suez) – Singapore – Kaohsiung

  • EC5

Rotation: Laem Chabang – Cai Mep – Singapore – Colombo – (Suez) – Halifax – New York – Savannah – Jacksonville – Norfolk – Halifax – (Suez) – Jebel Ali – Singapore – Laem Chabang

  • EC6

Rotation: Kaohsiung – South PRC – South PRC – Ningbo – Shanghai – Pusan – (Panama) – Houston – Mobile – (Panama) – Kaohsiung

Asia and the Middle East / Red Sea

  • AG2

Rotation: Shanghai – Ningbo – Xiamen – South PRC – Port Kelang – Jebel Ali – Hamad – Umm Qasr – Hamad– Jebel Ali – Singapore – Shanghai

  • AG3

Rotation: Pusan – Qingdao – Shanghai – Ningbo – Kaohsiung – South PRC – Singapore – Jebel Ali – Dammam – Hamad – Jubail – Abu Dhabi – Sohar – Port Kelang – Singapore – South PRC – Pusan

  • AR1

Rotation: Pusan – Shanghai – Ningbo – South PRC – Singapore – Port Kelang – Jeddah – Aqaba – Sokhna – Jeddah – Singapore – Pusan

Trans-Atlantic

  • AL2

Rotation: Southampton – Le Havre – Rotterdam – Hamburg – New York – Norfolk – Philadelphia – New York – Southampton

  • AL3

Rotation: Antwerp – Hamburg – London Gateway – Charleston – Savannah – Norfolk – Antwerp

  • AL4

Rotation: Le Havre – London Gateway – Antwerp – Hamburg – Veracruz – Altamira – Houston – Le Havre

  • AL5

Rotation: Southampton – Le Havre – Rotterdam – Hamburg – Antwerp – Halifax – Port Everglades – Cartagena – (Panama) – Rodman – Los Angeles/Long Beach – Oakland – Seattle/Tacoma – Vancouver – Oakland – Los Angeles/Long Beach – Rodman – (Panama) – Cartagena – Caucedo – Halifax – Southampton

Source: Container News

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THE Alliance to drop Savannah port calls

The Alliance, which comprises Hapag-Lloyd, Yang Ming, Ocean Network Express (ONE) and HMM, has announced it will temporarily remove calls at the Port of Savannah from its East Coast 2 Loop (EC2) service rotation.

“The Port of Savannah continues to face congestions,” pointed out Hapag-Lloyd, which noted that they have taken measures to clear backlogs in some of the ports that are facing severe container logjams.

The change on the EC2 service will start on the 50th week of the year and will be effective for four weeks, until the first week of 2022.

The vessels which will omit the US East Coast port will be the following:

  • ONE Hawk on week 50, 2021
  • Hyundai Honour on week 51, 2021
  • Rome Express on week 52, 2021
  • Antwerpen Express on week 1, 2022

The updated EC2 port rotation will be Qingdao – Ningbo – Shanghai – Pusan – (Panama) – Cartagena – New York – Norfolk – Wilmington – Charleston – Cartagena – (Panama) – Pusan – Qingdao.

Meanwhile, Hapag-Lloyd noted that its services East Coast Loop 1 (EC1), East Coast Loop 4 (EC4) and East Coast Loop 5 (EC5) will continue to call regularly at the Port of Savannah.

With this decision, The Alliance aims to aid its services’ schedule integrity, according to a statement by the German container carrier.

Source: Container News

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Yang Ming lets out ship to Maersk for a year

Τaiwanese liner operator Yang Ming Marine Transport has agreed to charter one of its container ships to Maersk Line for a year at nearly US$63 million.

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