Yang Ming’s Q2 strong but not strong enough

Yang Ming Marine Transport Corp. reported Friday it had shaved its loss from more than $27 million in the first quarter to $2.25 million in the second.

Still, that means the Taiwanese carrier had a net loss for the first half of the year of nearly $29.5 million. During the first six months of 2020, consolidated revenue was down 12% compared to the same period in 2019, to $2.2 billion. Volume was down 9.86% to 2.38 million twenty-foot equivalent units (TEUs). And the first-half net figure...

https://s29755.pcdn.co/news/yang-mings-q2-strong-but-not-strong-enough

Yang Ming reports $27 million loss

Yang Ming Marine Transport Corp. reported a first-quarter net loss of more than $27 million on Thursday as it faced criticism for receiving government aid during the coronavirus crisis.

The last sentence of the Taiwanese carrier’s press release states that “several [economic] stimulus or bailout [packages have] been revealed by the government to support the shipping industry as it weathers the pandemic impact.”

Terms of those bailout packages were not included in the three-paragraph earnings...

https://www.freightwaves.com/news/yang-ming-reports-$27-million-loss

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