TAIWAN : Yang Ming Marine Transport Corporation (Yang Ming) held its 382nd Board Meeting recently to approve the annual financial report for 2022. The Company set a new record by achieving consolidated revenues of NTD 

375.9 billion (USD 12.61 billion) and after-tax profits of NTD 180.6 billion (USD 6.06 billion), with Yang Ming’s full-year EPS reached NTD 51.71. Given the uncertainties of the shipping industry and the Company’s commitment to sustainable operations, the Board of Directors 

has approved maintaining the cash dividend at NTD 

20 per share.

Yang Ming delivered a strong performance in 2022, driven by strong demand and high average freight rates in the container shipping market. However, since Q4 of the same year, purchasing power has been diminished by inflation and high inventory levels. According to Alphaliner's latest forecast, an oversupply in the container shipping market is expected in 2023, with an 8.2% growth in capacity and a 1.4% growth in throughput. Nevertheless, the International Monetary Fund (IMF) in January has raised the global economic growth forecast for 2023 to 2.9%, which is higher than its October forecast last year. This indicates a potential improvement in economic activity. As China lifts restrictions and the gradual reduction of inventory, it might stimulate overall economic activity. These factors are likely to create a relatively positive environment for the shipping industry in H2 of the year. Moreover, the International Maritime Organization's (IMO) Carbon Intensity Indicator 

(CII) has come into effect this year, carriers may implement slow steaming, ship retrofitting, and older vessel retiring to reduce carbon emissions, which could help balance supply and demand. Despite the aforementioned factors, the container shipping industry still faces uncertainties due to ongoing global inflationary pressures and geopolitical risks.

To navigate through the evolving shipping industry, Yang Ming will continue to strengthen its business strategy by exploring new business opportunities, optimizing its cargo structure and improving space utilization. Additionally, the Company will prioritize customer satisfaction by optimizing its service 

network and enhancing digital services. As external environmental challenges arise, Yang Ming will proactively respond to improve its overall competitiveness.