ports

Yang Ming Pushes Forward With Fleet Expansion Despite First-Quarter Earnings Decline

Taiwan-based Yang Ming said its shipbuilding program remains on schedule despite a 15% revenue drop in the first quarter to $1.21 billion. The carrier plans to order six 13,000-teu vessels, following previous orders for six 8,000-teu and seven 16,000-teu ships. Management expects elevated freight rates through the second and third quarters as early peak season demand materializes. However, executives cautioned that forecasting beyond that period grows increasingly difficult. Geopolitical tensions, including the US-Israel-Iran conflict, supply-chain imbalances, and protectionist policies continue to cloud market visibility. The OECD projects global economic growth will ease to 2.9% this year. Yang Ming's fleet modernization aims to enhance operational flexibility. This allows the company to reconfigure routes and capacity in response to shifting cargo patterns. Shareholders approved a dividend of NTD 2 per share.