Evergreen Marine Corp (長榮海運) said yesterday it expects to swing into profit this year as the global economy gets back on the road to recovery.
Evergreen Marine chairman Bronson Hsieh (謝志堅) told reporters that the euro’s decline against the US dollar has made European exporters more competitive, but has hurt demand from Europe.
Lower imports in Europe have been offset by demand for cheaper European products and for cargo deliveries on European routes, he said.
UPBEAT
Hsieh said he is very upbeat about heavier shipping on European routes and the company has shifted much of its delivery capacity to those routes. Meanwhile, buyers in the US have been building up inventory since the fourth quarter of last year and demand from the US has been on the rise, which in turn has spurred demand for cargo deliveries, he said.
The strong demand on US routes is expected to continue into the end of October as the peak period for the high-tech sector starts next month, he said.
BRIGHT OUTLOOK
Hsieh said the company is expecting to post a profit for the first half of this year and the outlook for the second half is even better.
Last year, Evergreen Marine posted NT$9.86 billion (US$306 million) in net losses, as external trade was seriously hurt by the global financial meltdown.
In the first quarter of this year, the company recorded a NT$87 million net loss, signaling an upward trend.
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