[310315.EN.SEA] Yang Ming Back in Black With US$13 Million Profit As Revenues Rise 13pc

TAIWAN's Yang Ming Marine posted a profit of TWD411 million (US$13 million) for 2014, returning to the black from the 2013's TWD2.9 billion, as 2014 revenues of TWD134.7 billion increased 13 per cent.

The company also posted an 11 per cent increase in container throughput to 3.97 million TEU in 2014, reported IHS Maritime 360. Profit was attributed to higher freight rates since the third quarter and reduced oil prices in the last.

Yang Ming also introduced measures to save bunker consumption, adjusted the loading structure, and controlled cost strictly, which resulted in a 11 per cent annual growth of cargo throughput but only five per cent increase of operations cost, said the carrier.

The carrier also said it would explore new markets and cargo sources in 2015. With the deployment of 14,000-TEU ships and low oil price, the company expects to do better this year.

Separately, the 4,662-TEU YM Excellence built by CSBC Corp was recently named at a ceremony held at the Kaohsiung yard.

The ship is the fourth of five same-size vessels from the same yard. It is 259 metre long, 37.3 metres wide, has 400 reefer plugs, draws 12.8 metres and cruises at 22.9 knots.

The YM Excellence will be deployed in the CPX Service (China-Pakistan Express) on the following rotation: Shanghai. Ningbo, Shenzhen-Shekou, Singapore, Karachi Mundra Ports, Kelang, Singapore, Singapore, Hong Kong and back to Shanghai.

Source : HKSG.