Yang Ming will continue to track a sustainable path forward as it marks its 50th year anniversary.

The Taiwanese container shipping company said in order to meet the expectations of its customers, shareholders, employees, competent authorities, and other stakeholders; the company is looking to move ahead in digitalization, optimise its fleet, improve employee welfare, cultivate industry talents and realizing integrity of the business operation and corporate governance.

Nonetheless, Yang Ming would prioritize its sustainable development always to take the lead. 

"To stay on top in the ever-changing industry, the company has made necessary changes in terms of the long-to-short global supply chains and the urgency of net zero emission by 2050," Yang Ming said in a statement.

It added that, for instance, Yang Ming is the first shipping company in Taiwan that sets to build LNG ships.

In addition, the company has been investing in research and cooperation on clean energies, strengthening digitalization and smart applications of ships and internal procedures in order to enhance carbon reduction and operation efficiency.

Diversification moves

Also, Yang Ming noted that it continues to diversify its businesses by investing in terminals and logistics so as to create a competitive niche.

With container shipping being the centre, the upstream and downstream businesses will become an integrated network for sustainable development.

"Yang Ming will move towards net zero emissions and realize the UN's Sustainable Development Goals," it added.

Cheng-Mount Cheng, chairman of Yang Ming, said during the 50th anniversary celebration that Yang Ming has been moving forward in a highly competitive market since its establishment.

Starting out with dry bulk transport services, the company gradually developed into a global container shipping company.

Yang Ming in 2020 exceeded 5 million TEUs in annual business volume. Now, with a fleet of 95 ships, the company achieved record highs in revenues for the first three quarters of 2022.

"These accomplishments are the result of accumulated efforts over the past five decades and will serve as the solid foundation for the next 50 years of sustainable development," Cheng said, noting that container shipping is highly competitive and closely linked to the changes of the global economy.

Yang Ming celebrated its 50th anniversary at the Grand Hotel Taipei, inviting distinguished guests, including Wang Kwo-Tsai, Minister of Transportation and Communications, Tsai Ming-Yen, Deputy Minister of Foreign Affairs, joint-venture partners, strategic alliance partners, important customers, long-term suppliers, and local financial institution representatives.