Yang Ming Marine Transport Corporation held its 411th Board Meeting and approved the financial results for 2025. For the year, Yang Ming reported consolidated revenues of NT$ 163.56 billion (US$ 5.24 billion), after-tax profit of NT$ 17.1 billion (US$ 548.15 million), and earnings per share (EPS) of NT$ 4.9. In consideration of business sustainability and the continued need for fleet optimization, the Board approved a cash dividend distribution of NT$ 2 per share.
Global trade and economic development in 2025 faced high uncertainty amid adjustments in U.S. trade policies, rising protectionism, ongoing supply chain restructuring, and geopolitical risks, which in turn affected demand in the shipping market. Yang Ming’s Trans-Pacific services were impacted by tariff-related factors that dampened shipment momentum. However, European and Intra-Asia markets remained relatively stable. On the supply side, carriers continued rerouting vessels via the Cape of Good Hope amid the volatile Middle East and the Red Sea tensions. Congestion at major ports in Europe and Asia extended vessel waiting and turnaround times. Additionally, carriers adjusted sailing speeds to comply with environmental regulations; both factors helped to mitigate the pressure caused by the influx of newbuild capacity. Meanwhile, Yang Ming continued to optimize its service network and adjust vessel deployment flexibly while accelerating the renewal of vessels and containers to support operational growth. As a result, the Company recorded a positive performance in 2025, marking its sixth consecutive year of profitability.
Looking ahead, trade protectionism and geopolitical crises remain persistent. 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. For safety considerations, the rerouting measures have resulted in reduced capacity on the routes of Middle East. Complex transshipment arrangements have also increased operational challenges, placing additional pressure on port operations and increasing the risk of terminal congestion while pushing up insurance premiums and bunker costs.
On the supply side, the global container capacity is set to expand further, with approximately 1.59 million TEU scheduled for delivery in 2026. According to the February report by Alphaliner, global shipping supply growth for 2026 has been slightly revised upward to 3.8%, while demand growth is expected to remain at 2.5%, the supply-demand gap is projected to narrow. Furthermore, with decarbonization standards becoming increasingly stringent, necessary measures such as slow steaming and the gradual retirement of older tonnage are expected. These factors may accelerate the scrapping of aging vessels and contribute to a contraction in available supply, helping to offset a proportion of new capacity.
Amid ongoing adjustments in global industrial structures and the reshaping of supply chains, Yang Ming will focus on enhancing operational flexibility and market responsiveness. The Company will closely monitor global trade flows and demand trends, optimize its service network and capacity deployment accordingly, strengthening service stability and competitiveness. Yang Ming will continue to optimize its fleet structure through the deployment of energy-efficient and smart vessels, while maintaining environmental compliance and energy-risk diversification. The Company remains committed to operational resilience through the gradual replacement of aging vessels, aiming to enhance overall fleet efficiency while further strengthening customer service and slot utilization.