Yang Ming Marine Transport Corporation (Yang Ming) reported a sixth consecutive year of profitability in 2025, supported by stable performance in key markets and ongoing fleet renewal efforts, even as global trade faced mounting geopolitical and policy headwinds.
The carrier posted consolidated revenues of NT$163.56 billion (US$5.24 billion) and an after‑tax profit of NT$17.1 billion (US$548.15 million), with earnings per share of NT$4.9, according to financial results approved at its board meeting on March 12.
The board also endorsed a cash dividend of NT$2 per share, citing the need to balance shareholder returns with long‑term fleet optimization.
Yang Ming said 2025 unfolded against a backdrop of "high uncertainty amid adjustments in U.S. trade policies, rising protectionism, ongoing supply chain restructuring, and geopolitical risks," conditions that weighed on global shipping demand.
The company noted that Trans‑Pacific volumes were affected by tariff‑related pressures, while European and Intra‑Asia markets "remained relatively stable."
Operationally, carriers continued rerouting vessels around the Cape of Good Hope due to instability in the Middle East and Red Sea, a shift that tightened effective capacity and prolonged port congestion.
Yang Ming said these disruptions, combined with slower sailing speeds to meet environmental rules, helped offset the impact of new tonnage entering the market.
Despite the challenging backdrop, the company said it maintained profitability by "optimizing its service network and adjusting vessel deployment flexibly while accelerating the renewal of vessels and containers."
Outlook: Geopolitics, capacity growth, decarbonization pressures
Looking ahead, Yang Ming warned that trade protectionism and geopolitical tensions will continue to shape market conditions.
"The escalating conflicts in the Middle East and the Red Sea have had an impact on the region and the stability of the maritime supply chain," the company said, adding that rerouting for safety reasons has reduced capacity on Middle East services and increased operational complexity.
On the supply side, global container capacity is expected to expand further in 2026, with 1.59 million TEU scheduled for delivery.
Alphaliner forecasts supply growth of 3.8% next year, outpacing demand growth of 2.5%, though Yang Ming noted that stricter decarbonization rules, slow steaming and the retirement of older vessels may help narrow the gap.
The carrier said it will prioritize flexibility and responsiveness as global supply chains continue to shift.
Yang Ming plans to "optimize its service network and capacity deployment accordingly, strengthening service stability and competitiveness," while continuing to modernize its fleet with energy‑efficient and smart vessels.
The company added that it remains committed to "the gradual replacement of aging vessels, aiming to enhance overall fleet efficiency while further strengthening customer service and slot utilization."
