Wan Hai Lines Ltd (萬海航運) yesterday reported net profit of NT$30.14 billion (US$1 billion) for the second quarter, up 58.68 percent from a year earlier, but down 25.78 percent from a quarter earlier.
Last quarter's net profit was the lowest in the past four quarters, company data showed.
Earnings per share (EPS) were NT$8.57 in the second quarter, compared with NT$8.56 a year earlier and NT$16.64 in the first quarter.
Photo: CNA
The container shipper attributed its quarterly decrease in net profit to a fall in sea freight demand due to some countries’ COVID-19 prevention measures, high inflation pressure and manufacturers’ inventory adjustment, it said in a statement.
The results came as the Shanghai Containerized Freight Index, a barometer of sea freight rates, has declined for eight weeks in a row.
Wan Hai’s revenue stood at NT$75.13 billion in the second quarter, up 56.46 percent year-on-year, but down 6.68 percent from a quarter earlier.
Cumulative revenue in the first half of the year totaled NT$155.63 billion, up 79.64 percent annually, while accumulated net profit was NT$70.75 billion, up 110.03 percent annually, company data showed.
Gross margin tallied 60.01 percent for the first six months, compared with 51.59 percent a year earlier, data showed.
Wan Hai said that market visibility remains murky, but congestion at seaports would remain in the third quarter, while sea cargo capacity would continue to be limited.
The shipper has received four new ships, each with capacity of 2,038 twenty-foot equivalent units (TEUs) in the first half of this year, and plans to take delivery of another eight vessels — six with 3,013 TEU capacity and two with 3,100 TEU capacity — by the end of next year.
Larger rival Evergreen Marine Corp (長榮海運) on Friday reported net profit of NT$102.29 billion for the second quarter, up 143.22 percent from a year earlier, with EPS of NT$19.33, the highest in a single quarter on record.
First-half profit grew 160.32 percent to NT$203.65 billion, with EPS of NT$38.49, up from NT$15.03 a year earlier.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
RSS