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Yang Ming

Yang Ming to Float 500 mln Shares

Photo: Yang Ming Marine Transport

 The Taiwanese ocean carrier Yang Ming Marine Transport will make a public offering of 500 million shares as part of the company's ongoing recapitalization plan, the Taiwanese ocean carrier said in a statement .  It will offer the shares to existing shareholders, Yang Ming employees and the general public as part of the company's ongoing recapitalization plan.   "As the subsequent round of private offering continues with amounts pledged exceeding the first round, the Board of Directors of Yang Ming on July 14, 2017 has approved a resolution allowing for the public offering of an additional 500 million shares of company stock. Under this plan, the existing Yang Ming shareholders, Yang Ming employees, and the general public will have an opportunity to purchase company stock at a price to be determined," said the statement from the company.   This public offering is made largely in response to the interests shown by current shareholders to invest in Yang Ming.   In the meantime, the most recent performance indicators continue to show Yang Ming on a steady path of recovery. Revenues in June 2017 yielded US$ 385 million (NT $11.6 billion), up 22.86% compared with the same period last year.    More broadly, Yang Ming's cumulative revenue for the 1st half of 2017 totaled US$ 2.07 billion (NT$ 63.5 billion), an increase of 15.65% year-over-year


Yang Ming To Purchase Nine Containerships

Yang Ming Marine Lines approved a plan to issue $150-180 million in convertible bonds overseas to finance the purchase of nine new container ships. Yang Ming said it plans to buy seven ships, each with a capacity of 1,500 teu, to ply its its Asian lines, and two 5,500-teu ships for its transoceanic routes. "The company feels that shipbuilding costs are still at low levels and the shipping market is in an upturn, which fits with our plans to strengthen our regional and transoceanic fleets


Yang Ming Profit Hits $55M

Taiwan's second largest shipping firm Yang Ming Marine said on Tuesday its net profit in 1999 reached T$1.675 billion ($55.3 million) The company's 1999 sales totaled T$45.168 billion ($1.5 billion), Yang Ming said in a statement. It gave no comparative figures for 1998. Yang Ming's board of directors had agreed to offer dividends of T$1 per share to stockholders. The dividend included T$0.4 in cash and T$0.6 in stock


Yang Ming Chooses SpecTec

Yang Ming, the second largest shipping company in with a total fleet of 91 vessels representing 4.1 million-DWT of which container vessels are the main service, though 10 bulk carriers are also in operation. Yang Ming transports more than 3.1 Million TEUS per annum; a result which places them in the top 5 container lines in the world. The signing ceremony took place through the representation of Key Stake Holders from Yang


Seaspan Accepts Delivery of 14,000 TEU Box Ship

Seaspan Corporation has accepted delivery of a 14,000 TEU containership new build, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14,000 TEU SAVER design containership and eighth delivery in 2015. The YM Warmth will commence a 10-year, fixed-rate time charter with Yang Ming Marine Transport Corp. Yang Ming may extend the charter for up to an additional two years.


Seaspan Acquires Eighth 14000 TEU Vessel

Seaspan Spanning the Ocean Highways Photo Seaspan

Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 14000 TEU containership, the YM Width. The new containership, which was constructed at CSBC Corporation, Taiwan ("CSBC") is Seaspan's eighth 14000 TEU SAVER design containership and fourth delivery in 2016. This is the second 14000 TEU vessel using Seaspan's fuel-efficient SAVER design constructed at CSBC. The YM Width will commence a ten-year


Consortium Formed to Invest in China Shipbuilding

At the invitation of China Steel Corp. (CSC) and Yang Ming Marine Transport Corp., Wan Hai Lines Ltd. has shown its willingness to enter into a consortium led by CSC to invest in the state-run China Shipbuilding Corp., which has decided to go private through public bidding, according to a report on Taiwan Headlines. China Shipbuilding estimated it would sell a 51 percent up to 66 percent stake to become a privately owned firm


Yang Ming Sales Sag

Taiwan's Yang Ming Marine Transport Corp., the island's largest shipping firm in terms of revenues, said on Thursday it made sales of T$3.75 billion in May, down 1.37 percent from the same month in 2000. That brought accumulated sales in the January-May period to T$19.85 billion, a 5.17 percent rise from the corresponding period last year. May sales were down 13.8 percent from T$4.35 billion in April. - (Reuters)


Taiwan Shipping in Troubled Water?

Pic: EverGreen

 Taiwan's shipping lines aren't looking quite so young and fresh as they were earlier, reports Bloomberg.   While the global container industry has embarked on a spree of pairings and menages-a-trois over the past 12 months, Taiwan's shipping lines have remained proudly single.   Taiwan's major three -  Evergreen Marine Corp., Yang Ming Marine Transport Corp. and Wan Hai Lines Ltd. - have kept aloof from the fray.  


Yang Ming Halts Container Service to Iran

 Taiwan’s troubled Yang Ming Marine Transport Corp is halting its container service to Iran, becoming the first foreign shipping line to abandon the route a year after international sanctions on Tehran were lifted, Reuters reported.   Yang Ming announced in a regulatory filing it had suspended its share trading until May 4 in an effort to reduce losses from a global downturn in shipping.   Yang Ming, the world’s ninth largest container shipping line


Hapag-Lloyd Expects Rising Freight Rates in 2017

File Image: CREDIT - Port of Boston

Moderate increases in freights to be achieved in 2016; new Alliance membership starts on April 1.   German container shipping line Hapag-Lloyd expects freight rates to be several percentage points higher this year than in 2016, one of a number of factors that should help the company


Shanghai Grapples with Traffic Congestion

File Image (CREDIT: AdobeStock / (c) zhu difeng)

The world's busiest container port, Yangshan in China's business hub of Shanghai, is battling severe congestion wrought by dense fog, higher-than-usual volumes and the aftermath of a shake-up in shipping alliances, ocean carriers and port officials say.  


DP World London Now Handles Far East Calls

Photo: by Andrew Bowen, DP World

 MOL Triumph, the first of the world’s largest and newest vessels to call in the UK, arrives in Southampton on THE Alliance's FE2 service as new third deep-water berth opened at London Gateway in April, ahead of first regular Asia-Europe service starting.  


Fitch: Boxship Rates Rise, Capacity Still Key

File Image: CREDIT UASC

Fitch Ratings' Report: What Investors Want to Know: Container Shipping.   Container shipping companies have benefited from a modest increase in freight rates since the start of the year, but a sustainable recovery in the container market will only be achieved by reaching a viable


Bronson Hsieh Leaves Evergreen to Head Yang Ming

Bronson Hsieh. Pic by  Evergreen Group

 Evergreen Group vice chairman Bronson Hsieh has been appointed chairman of rival Taiwan carrier Yang Ming Marine.   Yang Ming Marine Transport, the nation’s second-largest container shipper in terms of fleet size, approved Hsieh’s appointment, reports said.  


Virginia Port Update on Handling of Hanjin, CKYHE Cargo

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In light of the recent bankruptcy filing by Hanjin Shipping, The Port of Virginia has updated its policies and processes regarding the movement and loading of Hanjin vessels and containers. The following policy is effective as of Sept. 1, 2016:


Drewry: What Next for THE Alliance?

Photo: Hanjin Shipping

 Hanjin’s bankruptcy leaves the proposed carrier grouping THE Alliance at a size disadvantage to both its future rivals. Might a replacement be called up?    Drewry says that the container shipping industry is in a state of flux at the moment and nobody can honestly say they


Yang Ming Agrees to Pay Cuts

Image: Yang Ming Marine Transport Corp

 Yang Ming Marine Transport Corp management team has agreed to take steep pay cuts to weather a downturn in the global cargo shipping sector that has strained the company’s earnings.   According to a report in Taipei Times, the company’s board of directors approved a plan


$1.9 bln Shipping Rescue Package in Taiwan

Photo: Evergreen Marine Corp

 Taiwanese government said it will provide 60 billion New Taiwan dollars ($1.9 billion) to support the country’s shipping industry, according to Reuters.   The package, announced late Tuesday, involves a credit line with preferential interest rates aimed mainly to help Evergreen


Yang Ming May Merge with Port

Photo: Yang Ming Marine Transport Corp

 Taiwanese container carrier Yang Ming Marine Transport Corp should merge with state-owned port company Taiwan International Port Corp. (TIPC), report local media quoting a member of Taiwan's parliament.   Legislator Chen Ou-po of the Democratic Progressive Party (DPP) proposed that


Expanded Panama Canal Welcomes its 500th Neopanamax Transit

Photo: Canal de Panamá

 Less than six months after the inauguration of the Expanded Panama Canal, the waterway welcomed its 500th transit of a Neopanamax ship on Wednesday, highlighting the trust that Canal customers have placed in the route.   Performing the 500th transit was the container vessel YM Unity


CMA CGM Strengthens Asia-East Coast South America Links

French container shipping major CMA CGM has upgraded its SEAS1 and SEAS2 services, now providing two departures per week between Asia and the East Coast of South America.    The group will thus provide two departures per week between Asia and the East Coast of South America


Yang Ming Rules Out Merger

Photo: Kaung Ming Shipping Co, a division of Yang Ming

 The chairman of  Taiwan's Yang Ming Bronson Hsieh has ruled out a merger with a boxship rival.    According to him, the world's ninth-largest shipping firm has never considered the possibility of merging with another operator and does not intend to do it now.  


THE Alliance Draws Up Financial Plans

File photo: Hapag-Lloyd

The members of THE Alliance announced a contingency plan in the event a member of THE Alliance suffers a bankruptcy.    The five member lines Hapag Lloyd, K Line, Mitsui OSK Lines, Nippon Yusen Kaisha and Yang Ming will establish an independent trustee to manage funds to be used


Container Shippers Ordered to Testify in US Investigation

File photo: Hapag-Lloyd

The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation into an industry that is the backbone of global trade, the companies said on Wednesday.   The world's biggest container shipper, Denmark's A.P






 
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