Yang Ming Marine Transport Corporation (Yang Ming) has reported combined revenues of NTD 222.71 billion ($6.94 billion) and a net profit after tax of NTD 64.18 billion ($1.9 billion).
According to Yang Ming, factors such as vessel rerouting owing to the Red Sea crisis and congestion at key ports aided in the absorption of extra capacity.
Additionally, the robust economic performance of emerging Asian markets contributed positively to global economic growth.
READ: Yang Ming boosts intra-Asian connections
The first three quarters of 2024 saw excellent market circumstances, with increased cargo volumes and freight rates.
The shipping company responded to these trends by optimising its service network and fleet deployment, maintaining service reliability and capitalising on market possibilities to improve operational performance.
Given the company’s full-year profitability, future fleet renewal plans, and current global trade uncertainty, the Board recommended a cash dividend of NTD 7.5 ($0.23) per share to ensure financial stability and long-term viability.
However, major uncertainties remain in the global trade outlook.
Key risk concerns include US tariff developments, which may result in inflationary pressures owing to increased operational costs and have an influence on economic growth and trade activity.
In response to FuelEU Maritime, the company plans to add up to six 8,000 TEU dual-fuel-ready vessels and up to seven 15,000 TEU LNG dual-fuel vessels.
In December 2024, Yang Ming unveiled its 2025 Trans-Atlantic services.
