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Yangming Shipping's profits skyrocketed, and its monthly profit exceeded the sum of the previous 10 years
Driven by the continuous increase in freight rates in the container shipping market, Yangming Shipping's profit surged in November, and its monthly profit exceeded the sum of the past ten years.
Recently, Yangming Shipping announced its results. November revenue reached NT$ 15.265 billion (approximately RMB 3.575 billion), and the after-tax surplus reached NT$ 2.705 billion (approximately RMB 634 million), a year-on-year increase of 739%. , It is close to the NT$2.819 billion in single-quarter profit in the third quarter, even exceeding the total profit in the past ten years.
Industry insiders pointed out that global freight demand is soaring. Under the influence of factors such as shortage of ships, shortage of containers, shortage of people, and port congestion, the container shipping market has ushered in the fourth quarter of its best performance in 20 years. The United States, Europe, the Mediterranean and the near ocean lines Freight rates have rarely risen across the board. Recently, the freight rate for European routes has been increased for four consecutive weeks. On December 18, the freight rate per TEU for exports from Shanghai to Europe has reached 3,134 US dollars, an increase of 6%, and the freight rate per TEU for Shanghai exports to the Mediterranean has increased by 4.9% to 3,223 US dollars.
As of December 24, the average Shanghai Export Container Freight Index (SCFI) in December reached 2245, a record high. This will be reflected in the performance of the company in January next year. Prior to this, the shipping company has announced that the freight rate of the US line will increase by US$1,000 per FEU in January, an increase of about 20% to 25%; the freight rate of the European line will be increased to US$10,000 per FEU, an increase of about 60%.
On the other hand, experts also reminded that the first quarter of next year will be the time for the most obvious revision of the freight rate next year. If the epidemic slows down and supply and demand balance, it remains to be seen whether the freight market can maintain its current performance.
However, some people in the industry believe that even if the epidemic passes, the demand for shipping will continue. In May next year, the long-term freight rate of the Western US Route is estimated to increase by more than 70%, and the market officially enters the era of high freight rates. German shipping giant Hapag-Lloyd and American transportation company DHL also predict that high freight rates will remain until the second quarter of next year, and the market will not return to normal conditions until the second half of next year.
It is understood that the European line of Yangming Shipping accounts for 34% of its revenue. Coupled with Yangming’s long-term deployment of heavy troops on the European line, the ability to immediately mobilize ships is strong. The market even predicts that Yangming’s EPS in the first quarter of next year may reach Above RMB 3, the full-year EPS of 2021 will exceed RMB 7.5.
Experts predict that the global container shipping market will still face an imbalance between supply and demand next year, and Yangming Shipping will have 7 11,000TEU and 3 2,800TEU container ships delivered and operated next year. Compared with the current fleet capacity of 623,148TEU, it will increase by 13.7%, which will help to continue to increase. Profitability performance.
It is reported that Yangming Shipping has a total of 92 ships in operation, including 44 self-owned ships, 48 leased ships, and 15 ships to be delivered. Among them, 10 new ships will be delivered in 2021 and 5 ships will be delivered in 2022. Next year, Yangming's operating growth will add new momentum.
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