Wan Hai Stays in the Black, But Evergreen and Yang Ming’s Red Ink Raises Merger Speculation

May 21, 2020

Niche carrier Wan Hai was the only Taiwanese container line to post a net profit in the first quarter of this year as its larger compatriots, Evergreen and Yang Ming, traded in the red.

The parlous position of the liner industry has renewed speculation of a merger of these two into one state-sponsored container line, a development that would be strongly resisted by their individual managements.

Following a $27m loss recorded by Yang Ming in Q1, Evergreen reported a net loss of $15m. But Wan Hai managed to stay in the black, with a profit of $3m, significantly below its $35m profit for the first three months of last year.

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Source: The Load Star