Yang Ming: $217.5 million loss

b05cd-sc_weekly_roundup_1.18_282129.png_282129.png

Yang Ming Marine Transport Corporation said it had a net loss of $218.5 million in 2018, with operating results significantly impacted by higher fuel prices.

The Taiwanese container carrier said its revenue last year was $4.7 billion, an 8.2 percent increase over 2017, when it totaled $4.35 billion.

Volumes were up 11 percent in 2018 to 5,232,000 TEUs. But the higher volumes were not able to offset higher fuel costs. It said global bunker fuel prices were 31 percent higher than in 2018.

Read more at American Shipper.

SCS BlogVanessa Frye