Yang Ming Marine Transport Corporation (Yang Ming) held its 399th Board Meeting on November 11th, 2024 to approve the 2024 Q3 financial report. Benefiting from the traditional peak season and strong demand, the Company’s consolidated revenues in Q3 totaled NTD 72.84 billion (USD 2.27 billion). Profit after tax in Q3 reached NTD 28.37 billion (USD 0.89 billion), an increase of 911% compared to the same period last year, with EPS of NTD 8.12, marking a new quarterly high this year. For the first three quarters of 2024, Yang Ming’s consolidated revenues amounted to NTD 169.23 billion (USD 5.28 billion). The Company achieved a positive performance, with profit after tax growing 750% year-over-year to NTD 51.63 billion (USD 1.61 billion) and an EPS of NTD 14.79.

Q4 is the traditional low season for the European and U.S. markets. With the end of the U.S. East Coast port strike, concerns about supply chain disruptions have eased, leading to increased competitive pressure in the market. Whether the pre-Lunar New Year cargo rush will occur earlier in late Q4 remains to be seen. Looking ahead to 2025, the latest forecast from the International Monetary Fund (IMF) projects global economic growth to stabilize at 3.2%, with central banks having successfully controlled inflation without triggering a recession.

According to the latest forecast from Alphaliner, the global container shipping market saw record vessel deliveries in 2024, with approximately 3 million TEU in new orders, of which about 0.79 million TEU are expected to be delivered in Q4. In addition, capacity and demand growth in 2025 are expected to be 5.8% and 2.5%, respectively, indicating narrowing supply-demand gap compared to this year. Continued diversions around the Cape of Good Hope will also absorb additional capacity. Nevertheless, potential inflation, escalating geopolitical tensions, rising trade protectionism, and U.S. trade policy following presidential election introduce further uncertainties to global trade.

In the face of evolving trade dynamics and the ever-changing maritime landscape, Yang Ming remains committed to providing competitive transport services. Starting in February 2025, the Company will optimize its East-West services through Premier Alliance framework, vessel sharing, slot exchange and slot charter agreements, enhancing its reliable and comprehensive global service network. Alongside niche markets expansion and cargo structure optimization strategies, Yang Ming aims to strengthen business resilience and ensure stable, long-term profitability.