The Taiwanese shipping line Yang Ming boosted profits by 50.95% to $5.66 billion with revenues up $10.79 billion for the first 9 months of the year.
The company reported $3.41 billion in revenues in the third quarter of the year with profits after tax reaching $1.7 billion for the same period. The company stated that the ongoing Russian war in Ukraine and the global surge in inflation had an impact on the global container industry. The unresolved port congestion and contract negotiations that have stalled in the US West Coast add more uncertainty in global supply chains.
Source: www.container-news.com