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According to MANA, The result represents a decrease of 90% compared to the net loss seen in the same period a year earlier. Compared to the previous quarter, the company’s net loss shrunk by 50.6% from TWD 901 million (USD 29 million) reported in the first quarter of 2017.

The second quarter consolidated revenues stood at TWD 33.2 billion, up 19.6% from the same period over the previous year, while the volume rose 6.81% year-over-year to 1.15 million TEUs.

Yang Ming’s first half 2017 net loss was lowered to TWD 1.34 billion, a reduction of 84% compared to the same period last year.

For the first six months of the year, the company’s consolidated revenues were at TWD 63.48 billion, with revenue up 15.65% from the same period in the previous year. Volume for the first half totaled 2.28 million TEUs, climbing 10% from the same period over the previous year.

Since the fourth quarter of 2016, Yang Ming has taken the initiative to control costs and develop a new strategy to optimize its financial position.

“Coupled with a stabilized 2017 market, Yang Ming’s internal efforts have helped to grow its volumes and revenues substantially in 2017, as evidenced by Yang Ming’s year-to-date results.”