TWO of Taiwan’s three key container shipping companies, Yang Ming and Wan Hai have disclosed their third-quarter results, showcasing substantial growth in revenue and net profit because of robust demand during the peak season.

Yang Ming’s net profit from July to September surged to $T28.4bn ($880m), marking a remarkable year-on-year increase of nearly 900%. The quarterly revenue also soared to $T72.8bn, a substantial growth from $T35bn in the corresponding period last year.

But Yang Ming remains cautious about the final quarter of this year.

The conclusion of the strike on the US east coast is anticipated to alleviate supply chain disruptions. It remains to be seen whether the pre-Chinese New Year shipping peak will occur earlier at the end of this quarter, Yang Ming said.

In light of the uncertainties posed by geopolitical tensions and increasing protectionism, Yang Ming will persist in fortifying its east-west main routes and expand into niche markets to ensure profitability in the evolving global trade landscape.

Wan Hai’s net profit amounted to $T18.4bn in the third quarter, up more than 600% year-on-year growth, along with quarterly revenue more than doubled from the previous year to $T5.5bn.

The company attributed the third-quarter performance to rising rates and effective operation. In the first 10 months of this year, Wan Hai has received 12 newbuildings and expects three 13,000 teu new boxships to join the fleet next year.

Wan Hai, like Yang Ming, acknowledged the potential challenges that may arise in the coming quarters due to geopolitical tensions. Wan Hai noted its commitment to sustaining efficiency through effective cost management.

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