SIMIC

DECEMBER revenues for Taiwan's top three container shipping companies dropped 40 to 50 per cent from the same period a year ago because of inflationary pressure, poor demand and collapsing shipping rates, reports Taipei's Taiwan News.

Evergreen Marine announced consolidated December revenue was US$955 million, a month-to-month decrease of 19.25 per cent, and a decrease of 44.2 per cent year on year.



Yangming Marine experienced similar troubles as December revenue was $955 million, a monthly decrease of 16.58 per cent, and a year-on-year drop of 53.4 per cent.
Wan Hai Lines fared equally badly, with December revenue of $374 million, for a decrease of 50.7 per cent over the same period a year earlier.
Yangming stated rapidly changing supply and demand in the shipping market make it difficult to grasp overall development in 2023.
Furthermore, the company stated favourable factors for the shipping market include the implementation of environmental protection regulations.
It could lead to reduced shipping supply, which could temporarily balance supply and demand.
Additionally, Yangming was hopeful that if many countries meet economic development goals and targets, a good follow-up recovery period could be anticipated.