| Taiwanese carrier Yang Ming Marine reported a profit of TWD411 million (USD13 million) for the whole year of 2014, returning to black from the TWD2.9 billion loss in 2013, the stated company on 25 March. The carrier recorded TWD134.7 billion in revenue in 2014, up 13% year on year (y/y), and its earnings per share stood at TWD0.13. The company handled 3.97 million teu in 2014, up 11% y/y from the 3.56 million teu in 2013. The profit was attributed to the rising freight rates since the third quarter of 2014, which contributed to the increase of revenue. The company also benefited from the reducing oil price since the last quarter. In 2014, in order to meet market demand, Yang Ming promoted measures to save bunker consumption, adjusted the loading structure, and controlled cost strictly, which resulted in a 11% annual growth of cargo throughput but only 5% increase of operation cost, stated the carrier in its press release on 25 March. The carrier will explore new markets and cargo sources in 2015. With the deployment of 14,000 teu box ships and low oil price, the company is confident to make a better performance in 2015. |