Yang Ming Reports Q1 2024 Financial Results


Yang Ming Marine Transport Corporation (Yang Ming) held its 392nd Board Meeting on 10th May to approve its Q1 financial report of 2024. The consolidated revenues in Q1 totaled NT$ 43.8 billion (US$ 1.39 billion). The net profit after tax stood at NT$ 9.38 billion (US$ 298.42 million), with an EPS of NT$ 2.69.


In Q1 2024, the supply chains of the container shipping industry encountered challenges from the Red Sea crisis, leading vessels to divert to the Cape of Good Hope, which absorbed vessel capacity. Meanwhile, demand improved given the gradual enhancement in the manufacturing PMI of major economies, smooth inventory destocking on the client side, and manufacturers resuming production post-Chinese New Year. Overall, the Company delivered positive results in Q1.

Major central banks worldwide may consider cutting interest rates to boost household purchasing power and economic growth. Nonetheless, potential geopolitical conflicts escalating could disrupt energy and financial markets, impacting the global economy significantly.

Geopolitical factors causing delays 

According to Alphaliner’s latest forecast, capacity supply growth in 2024 is expected to be at 9.7%, exceeding demand growth at 3%. However, uncertainties still linger over the maritime industry, with geopolitical factors causing delays in turnaround times and port congestion. Furthermore, the Panama Canal transit restrictions continue despite an improvement in water levels.

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Source: Yangming