Yang Ming Marine Transport Corp (陽明海運), the nation’s second-largest container shipping company by fleet size, on Friday took delivery of a new 2,800 twenty-foot-quivalent unit (TEU) Feedermax container vessel from CSBC Corp, Taiwan (CSBC, 台灣國際造船).
The new vessel, YM Continuity, is the ninth delivery of an order of 10 Feedermax vessels placed with CSBC.
It uses new technology to optimize the ship’s hydrodynamic performance and has a newly developed fuel control system to help enhance energy efficiency, Yang Ming said in a news release.
Photo courtesy of Yang Ming Marine Transport Corp
“The installation of scrubbers will help Yang Ming fulfill its promise to reduce emissions of nitrogen oxides and sulfur oxides,” the company said.
The YM Continuity would be deployed on the company’s Japan-Taiwan-South China route from Thursday next week and significantly enhance its intra-Asia service network, it said.
Analysts have said that Yang Ming’s enlarged fleet is expected to boost the company’s revenue and earnings during peak season for regional shipping in Asia.
Yang Ming on June 4 reported net profit of NT$8.87 billion (US$317.8 million) for April, up 5,061.88 percent from a year earlier due to strong demand and rising freight rates.
Earnings per share were NT$2.66, an increase of 3,425 percent from last year.
In the first four months of this year, earnings per share were NT$10.15, Yang Ming said in a Taiwan Stock Exchange filing.
Cumulative revenue in the first four months was NT$108.02 billion, up 94.72 percent year-on-year, company data showed.
Capital Investment Management Corp (群益投顧) forecast that Yang Ming’s net profit would continue rising through the third quarter, as port congestion as well as a blockage of the Suez Canal in April have caused a container shortage and delayed delivery schedules, leaving limited capacity in the market and further boosting freight rates.
“Looking forward, the container shipping sector’s supply and demand dynamics might develop in positive directions,” Capital said in a report on Tuesday, estimating that Yang Ming’s net profit would reach NT$29.09 billion in the second quarter and NT$36.95 billion in the third quarter, compared with NT$24.59 billion in the first quarter.
Yang Ming shares rose 1.34 percent to close at NT$151 on Friday in Taipei trading, after surging 416.24 percent since the beginning of this year, compared with the broader market’s 18.81 percent rise over the period, exchange data showed.
TECH PARTNERSHIP: The deal with Arizona-based Amkor would provide TSMC with advanced packing and test capacities, a requirement to serve US customers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is collaborating with Amkor Technology Inc to provide local advanced packaging and test capacities in Arizona to address customer requirements for geographical flexibility in chip manufacturing. As part of the agreement, TSMC, the world’s biggest contract chipmaker, would contract turnkey advanced packaging and test services from Amkor at their planned facility in Peoria, Arizona, a joint statement released yesterday said. TSMC would leverage these services to support its customers, particularly those using TSMC’s advanced wafer fabrication facilities in Phoenix, Arizona, it said. The companies would jointly define the specific packaging technologies, such as TSMC’s Integrated
An Indian factory producing iPhone components resumed work yesterday after a fire that halted production — the third blaze to disrupt Apple Inc’s local supply chain since the start of last year. Local industrial behemoth Tata Group’s plant in Tamil Nadu, which was shut down by the unexplained fire on Saturday, is a key linchpin of Apple’s nascent supply chain in the country. A spokesperson for subsidiary Tata Electronics Pvt yesterday said that the company would restart work in “many areas of the facility today.” “We’ve been working diligently since Saturday to support our team and to identify the cause of the fire,”
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales