Yang Ming Marine

Yang Ming to launch the upgraded PAS service

Yang Ming is set to enhance the PAS service in March, introducing an upgraded PAN-ASIA SERVICE that now includes Ho Chi Minh City, Vietnam.

This collaborative initiative involves T.S. Lines, and Interasia Lines (IAL), aiming to strengthen the Southeast Asian market by providing swift and high-quality transport services.

Also, the enhanced PAS service operates on a fixed weekly sailing schedule with a transit time of 21 days.

The port rotation for the PAS service encompasses Moji, Japan > Hakata,...

https://container-news.com/yang-ming-to-launch-the-upgraded-pas-service/

Yang Ming’s Monthly Profit Surged Fifty Times To A New High

Yang Ming released its financial report for April, with monthly revenue of NT $21.698 billion (about RMB 5.036 billion) and a net profit after tax of NT $8.867 billion (about RMB 2.058 billion), a year-on-year increase of 5061.88% says a News Article Published in XindeNews.

Benefiting from the continuous increase in freight rates, Yang Ming Marine Transport’s profit surged 50 times in April, setting a new monthly high.

In the first quarter of this year, Yang Ming’s revenue was NT $62.282 billion...

https://mfame.guru/yang-mings-monthly-profit-surged-fifty-times-to-a-new-high/

Free for all sees rates blow indexes out of the water

Freight indexes have become divorced from the reality of the market according to consultant Jon Monroe, who says that no index accurately represents the rate a shipper needs to pay to ship a container to the US.

Ship operator profits increased from the middle of 2020 and have continued to grow into this year, with Yang Ming and HMM the latest lines to declare first quarter profits, and in HMM’s case, they represent historically high returns.

“Today’s environment is a free for all and it seems...

https://container-news.com/free-for-all-sees-rates-blow-indexes-out-of-the-water/

Yang Ming to diversify business scope

Yang Ming Marine Transport chairman Cheng Cheng-mount said at an investors’ conference on 11 May that the company wants to diversify into other industries through co-operation and investments.

He said that the company suffered losses in recent years and there is a need to maintain financial stability. Cheng was speaking the day before Yang Ming announced a Q1 net profit of TW$24.59 billion (US$862.4 million), reversing a net loss of TW$755.34 million (US$24.97 million) in the first quarter of...

https://container-news.com/yang-ming-to-diversify-business-scope/

Greek boxship collides with wreck off Indonesia

Cyprus flagged container ship Tina 1 has collided with the wreck of the Iranian vessel Shahraz which ran aground, breaking its back in May this year. Tina I is, reportedly, also now grounded near Batu Island.

Local shipping reports suggest the 66,332 gross tonnage containership Tina I, built in 2004, was heading for Jakarta, Indonesia from Singapore in position latitude 01 11 12N, longitude 103 52 49E, near Batu Island in Batam, Indonesia, on 22 November.

“An Investigation is underway to...

https://container-news.com/greek-boxship-collides-with-wreck-off-indonesia/

Kanway Line orders 1,900TEU pair at Huangpu Wenchong

Kanway Line, a minor Taiwanese feeder operator, has commissioned firm orders for two 1,900TEU ships from CSSC Huangpu Wenchong Shipbuilding.

Huangpu Wenchong’s immediate parent, China CSSC Holdings, disclosed the newbuilding orders in a filing to the Shanghai Stock Exchange on 20 November 2020.

The orders, scheduled for delivery in 2022, come with options for another two vessels. While the contract price was not disclosed, similar ships contracted recently at the same shipyard have a current...

https://container-news.com/kanway-line-orders-1900teu-pair-at-huangpu-wenchong/

Indonesian tycoon acquires FSL Trust’s last boxships

Companies linked to Indonesian businessman Salik Soetemo have acquired First Ship Lease Trust’s last three container ships.

The ships FSL Elixir and FSL Eminence have been renamed SPIL Kartini and SPIL Kartika respectively, after being purchased by PT Salam Pacific Indonesia Lines (SPIL), a domestic Indonesian liner operator. Both vessels are currently operated by SPIL.

SPIL is now the 26th largest liner operator, with combined capacity of 57,634TEU, entirely comprising of 51 owned ships. The...

https://container-news.com/indonesian-tycoon-acquires-fsl-trusts-last-boxships/

Taiwan lines battle historical debt

Yang Ming and Wan Hai lines are looking at solving shortfalls in company finances in differing ways as the carriers’ report struggle with historical debt in spite of booming rates this year.

Yang Ming Marine Transport Corporation’s new chairman, Cheng Cheng-mount, who took over from Bronson Hsieh on 1 October, said in a message to the company’s staff that despite achieving an operating profit in the second quarter of 2020, the company’s overall financial health is not robust.

The new chairman has...

https://container-news.com/taiwan-lines-battle-historical-debt/

Evergreen Marine Corp appoints new chairman

In a statement to the Taiwan Stock Exchange the board of Evergreen Marine Corporation (EMC) announced on 7 October that 64-year-old Chang, Yen-I has been appointed company chairman with immediate effect.

Chang joined EMC as a seafarer in 1987 and was promoted through the ranks to captain.

“With comprehensive experience gained in various departments such as crew management, operations, marine technology and maintenance, Chang has also worked in Los Angeles and Panama,” read an EMC statement.

In his...

https://container-news.com/evergreen-marine-corp-appoints-new-chairman/

USCG and partners stem flow of oil from YM Mandate

US Coast Guard officials along with the New Jersey Department of Environmental Protection and Gallagher Marine Systems have managed to stop the flow of oil from the cracked hull of the YM Mandate.

The container vessel was seen leaking fuel oil on Wednesday 30 September at the Global Container Terminal in Bayonne, New Jersey and local officials and services moved to minimise the environmental damage.

In a statement, the USCG said, “The container vessel YM Mandate is no longer leaking fuel oil from...

https://container-news.com/uscg-and-partners-stem-flow-of-oil-from-ym-mandate/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.