Yang Ming Posts Year-on-year Profit Increase

By Angkan Mukherjee!!!

Yang Ming announced an increase in third quarter profits of 23.4 percent from the same quarter last year. At its board meeting on November 9, the company approved the financial report that showed revenues for the third quarter of 2017 rising to $1.2 billion from $958 million in the third quarter of 2016.

This was largely due to frieght rates increasing over the last few periods and higher that average demand during the annual peak season. Their volumes for the third quarter were reported at 1.2 million TEUs, an 11 percent increase from the same quarter last year.

The company also announced plans to expand its operations in the Mediterranean and South East Asia. Yang Ming is in talks with the Taiwan International Port Corporation to form a joint venture and invest in Indonesia. The project aims to provide logistics and shipping services to Taiwan based companies that trade with Indonesia.

The drive to bring in innovative technologies to streamline flow of containers and consiladate management structure has been responsible for the increase in profitablity. Growth in revenue and volume can also be attributed to better use of data analysis in booking cargo and revamped organizational protocols.

Photo: Diana Shipping

Diana Shipping Reports 3Q Loss of $24.5 Mln

Greece-based Diana Shipping inc. on Tuesday reported a loss of $24.5 million in its third quarter of of 2017. Its net loss attributed to common stockholders was $25.9 million.

© jcpjr / Adobe Stock

Ship Operating Costs Stabilize: Drewry

The cost of operating cargo ships rose marginally in 2017 following two consecutive years of falls, but ship owners should prepare for higher costs led by a spike in insurance

Garden City Terminal, Port of Savannah. Nine ship-to-shore cranes work two container vessels at the Georgia Ports Authority Garden City Terminal near Savannah Ga. Photo: Georgia Ports Authority/Stephen B. Morton

GPA Approves Savannah Port Expansion

The Georgia Ports Authority (GPA) has approved the rail and gate expansion projects that will significantly boost capacity at the Port of Savannah’s Garden City Terminal - North