Taiwan Evergreen Shipping's September Revenue Hits Record High

- Oct 12, 2020-

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Benefiting from the continuous soaring of freight rates in the US, Taiwan Evergreen Shipping achieved a new high in September, setting a new record for two consecutive months.


  Evergreen Shipping recently released its financial report. In September of this year, the company's revenue reached NT$19.35 billion (approximately RMB4.535 billion), an annual increase of 15.1%. Evergreen Marine has broken the record for two consecutive months after its revenue broke the record of NT$18 billion in August.


   In the third quarter, Evergreen Ocean’s operating revenue reached NT$55.33 billion (approximately RMB 12.969 billion), a year-on-year increase of 11%. In the first three quarters, Evergreen Shipping's cumulative revenue reached NT$142.699 billion (approximately RMB 33.447 billion), a year-on-year increase of 0.08%.


Industry insiders pointed out that the market demand for the Far East-North America line has exploded this year. Since May, the freight rate of the Far East-North America line has soared, and the increase has doubled so far. The North America line has always been the main route of Evergreen Shipping, accounting for Evergreen Shipping’s operations. With a revenue of more than 40%, Evergreen Shipping has also become the biggest winner of this round of soaring freight rates.


   It is understood that Evergreen Marine operates 192 ships in its fleet, ranking seventh in the world in terms of fleet capacity. Although many ships have been put on the North American line, the problem of lack of containers in the market is still very serious, and there is even a situation of "hard to find a container".


Under such circumstances, Evergreen Shipping launched its empty container global dispatch plan early to load idle empty containers back to Asia to meet customer needs. This is one of the reasons for its rapid recovery of profits, and it has also become one of the few that are still normal. The company that supplies the container to the customer.


   Affected by this, Evergreen Shipping's revenue and profit rose in the second quarter. In the second quarter, Evergreen Shipping’s net profit after tax was NT$3.19 billion, and its operating profit margin was as high as 12%, ranking first among its peers in the world.






Analysts estimate that the third quarter is still low interest rates, low oil prices, coupled with high cargo volume, high freight rates, Evergreen Shipping has a chance to make more than NT$7 billion in profits, and single-quarter earnings per share will reach NT$1.45. , The net profit after tax in the first half of the year was NT$2.75 billion. It is expected that Evergreen Shipping will make a profit of NT$10 billion (approximately RMB 2.344 billion) in the first three quarters of this year.


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