Yang Ming Lines Reports Losses Doubled in 2016

Yang Ming Lines, a Taiwanese-origin ocean carrier, almost doubled its losses between 2015 and 2016, reporting a $493.6 million loss last year on reduced revenue due to frailer pricing. The statement of deep losses comes as the Taiwanese government burdens the carrier to reform or face a significant disturbance. Yang Ming Lines is not the only ocean carrier facing losses in 2016, after Maersk Line, CMA-CGM, Hapag Lloyd, and OOCL reported a total loss of $1 billion. The company’s revenue fell 9.5 percent year-over-year in 2016 to $3.8 billion. Turnover was also insufficient in covering Yang Ming’s operating expenditures of...

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