Seven ocean carriers blocked empty container returns to New York-New Jersey marine terminals last week as import volumes swell due to West Coast freight diversions.
Yang Ming Line
Yang Ming Line
Yang Ming Marine Transportation Corp. is the largest Taiwan-based global shipping logistics services company, operating a fleet of more than 100 vessels [101, as of Nov. 18], with a combined oprating capacity 643,000 TEUs. Over the first nine months of 2018, Yang Ming was ranked ninth among all carriers in U.S containerized import trade, with volume of over 700,000 TEUs, up 4 percent year-over-year, for a 4 percent share of that market. Over the same period, Yang Ming also ranked in ninth spot among carriers of U.S. containerized export trade, with volume of over 350,000 TEUs, up 0.2 percent, year-over-year, for a 3.7 percent share of that market.
Although Yang Ming Line is Headquartered in Keelung, Taiwan, it opeates numerous services that link Taiwan with mainland Chinese ports such as Shanghai, Ningbo, Xingang and Shekou. Other services link container ports in Japan, South Korea, and Southeast Asia with other ports in Europe (Antwerp, Hamburg, Rotterdam), Prince Rupert (Canada) and the U.S. (Oakland, L.A.) Yang Ming is also a member of The Alliance, along with Hapag-Lloyd and Ocean Network Express (ONE).
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25 Mar 2022
Ocean carriers are stepping up efforts to sweep up empty containers that are congesting ports on the US West and East coasts ahead of an expected surge of new imports.
22 Mar 2022
The Federal Maritime Commission is adding the availability of export capacity to its ongoing scrutiny of how ocean carriers are operating in the US.
11 Mar 2022
Yang Ming is extending waivers on fees related to import containers lingering at marine terminals because of congestion, which truckers claim is due to empty boxes.
15 Feb 2022
THE Alliance will split a “pendulum” service that swings from Asia to Europe and the US West Coast, with Hapag-Lloyd saying it could respond to demand more easily by adding vessels to two new services rather than through one existing service.
27 Jul 2021
The reopening of the US and European economies after last year’s COVID-19 lockdowns spurred a resurgence in the trans-Atlantic container trade as business activity in two of the world’s largest economies showed better than expected growth in May, with increases concentrated at US ports that have undergone major expansions.
23 Dec 2020
Unprecedented trans-Pacific volumes and steadily growing exports of petrochemicals, agricultural products, and resins have prompted members of THE Alliance to launch a new direct service between Asia and the US Gulf.
24 Nov 2020
Yang Ming has joined the growing list of container lines to offering a digital quoting and booking channel, with its use of software from BlueX Trade also a sign that this trend is taking root in Asia.
20 Aug 2020
A chassis dispute between trucking executives and ocean carriers has reached an impasse, spurring American Trucking Associations to seek a resolution from the US Federal Maritime Commission.
30 Jun 2020
Retailers and forwarders say July 1 general rate increases (GRIs) could send spot container freight rates in the eastbound trans-Pacific to record levels.
27 May 2020
A wave of government support measures and the rising threat of overcapacity speaks to the pain on the way, even if carriers have shown they’ve learned from the 2008-2009 global financial crisis not to pull punches when it takes to cutting capacity quickly.
02 Apr 2020
As consumer demand in the US plummets due to the coronavirus disease 2019 (COVID-19), trans-Pacific carriers are suspending entire strings in addition to blanking additional sailings from Asia in the second quarter.
08 Jan 2020
Members of THE Alliance are making plans to reshuffle their Asia-North Europe and Asia-Mediterranean networks in preparation for HMM, which will join the vessel grouping in April.
13 Aug 2019
Yang Ming improved its revenue and volume in the first half of the year, but the Taiwanese carrier raised concerns over growing capacity and weaker demand.
04 Jul 2019
Carriers and shippers alike must adapt to the new realities of a container shipping market in which only a handful of large players control the vast majority of capacity.
16 May 2019
In the latest step in the ocean carrier’s transformation into a “global integrator” of container logistics, Maersk Line has folded in the inland services formerly operated by APM Terminals.
14 May 2019
Adding five new members may give the Digital Container Shipping Association the quorum needed to press forward with the development of standard data protocols.
19 Dec 2018
After a year of dismal schedule reliability, carriers have revised their networks in an attempt to improve service levels, but standing in the way are significant challenges.
30 Nov 2018
The cuts come even amid reports of Brazilian coffee and cotton exporters scrambling for outbound capacity out of the ports of Santos and Vitoria.
12 Nov 2018
Rising volume and revenue by shipping lines — often double-digit increases year over year — has not been accompanied by rates rising to levels that are able to offset the effects of steadily escalating bunker fuel costs.
07 Nov 2018
While container shipping fundamentals are improving, 2019 holds major challenges for ocean carriers.
06 Nov 2018
A report on the status of instant quotes in container shipping.
06 Nov 2018
The new consortium, powered by Oracle Cloud Blockchain Service, involves CMA CGM, Cosco Shipping (and subsidiary brand OOCL), Evergreen Marine, and Yang Ming, and the lines represent about one-third of total global container ship capacity.
10 Aug 2018
“While we are seeing others in the container ship industry face similar struggles, Yang Ming anticipates a healthier second half, driven by an improving supply and demand ratio,” the ocean carrier said.
01 Jun 2018
Ocean carriers’ fixed costs rose in the first quarter, and surcharges ensued. However, the hikes occur even as the surplus capacity issue lingers, prompting debate regarding whether carriers can maintain the surcharges.
15 May 2018
Higher costs have weighed on results, slightly offsetting the positive impact of stronger volumes. Still, a key CEO offered an encouraging evaluation regarding the second half of 2018.
29 Mar 2018
After six years of losses, the container shipping industry ended 2017 with a profit of about $7 billion. Financial reports of the 13 carriers do show improvement but do not yet reflect a full recovery — a recovery that should continue in 2018, given the strengthening global economy, unless political issues intervene.
26 Mar 2018
Taiwan's Yang Ming has completed a profitable 2017 on the back of a stronger container market and a recapitalization plan.
08 Dec 2017
The capital injection from 257.7 million new common stock shares, at 10.18 New Taiwan dollar per share (about $0.34) is the third stage in the company’s recapitalization effort.
27 Nov 2017
The cash infusion surpassed the company’s initial goal of raising $165 million.
15 Nov 2017
Yang Ming and HMM have said it is too early to confirm whether mega-ships will be included on their order books.
09 Nov 2017
Yang Ming reports a third-quarter profit on higher volume and freight rates, after 10 loss-making quarters.
14 Sep 2017
US maritime regulators on Thursday voted to allow ocean carrier members of THE Alliance to form an emergency fund.
11 Aug 2017
Debt-stricken carriers Yang Ming and HMM have used government support and the improving market conditions to raise revenue, cut costs, and pare down debts.
22 Jun 2017
The Taiwanese carrier announced the recapitalization plan in late 2016.
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