Evergreen Marine Corp, Taiwan's largest container shipping company by revenue, posted a 98 percent drop in net profit for the January-September period, because of weak freight rates and high fuel costs, reported Dow Jones Newswires.
The shipper, which derives around 65 percent of its revenue from routes to Europe and the Americas, said its net profit for the nine months ended September 30 was US$8.93 million, down sharply from $390.47 million a year earlier.
It didn't give its third-quarter results separately.
| Yang Ming $177m in the red in nine months Yang Ming Marine posted a net loss of US$177.33 million for the first three quarters of this year because of weaker demand on its European routes and high fuel costs. Yang Ming Marine, Taiwan's second-largest container shipping company by revenue after Evergreen Marine Corp, reported a net profit of $347.31 million in the same period in 2010. It didn't give its third-quarter results separately. |
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