Yangming, Evergreen Shipping: As long as there is no ceasefire, we will not consider resuming navigation in the Red Sea
Recently, Chang Yanyi, chairman of Evergreen Shipping, and Zheng Zhenmao, chairman of Yangming Shipping, analyzed the prospects of the consolidated shipping market when they jointly participated in an industry event.
He also reminded that the US East Coast labor contract will expire on September 30, and the new negotiation process between the two sides is also an important variable in the market, which needs special attention in the future.
For this year's performance, he analyzed that the performance generally reflects the freight rate of 2 months ago. According to the Shanghai export container comprehensive freight index, freight rates continued to rise from the end of April to July this year, which means that shipping companies will still perform better in the third quarter.
Speaking of performance, the latest results of Evergreen Shipping and Yangming Shipping are very encouraging.
Although no earnings figures have been released, both companies are expected to post significant earnings growth on the back of high freight rates.
Not long ago, the senior management of Evergreen Shipping and Yangming Shipping also made a judgment on the market.
At the shareholders' meeting held in May, Wu Guanghui, general manager of Evergreen Shipping, said that there was a shortage of boxes in the Far East export market, which caused panic among European and American importers and made up inventory in advance, making the peak season ahead of schedule. It remains to be seen how long restocking by European and American importers will last, but the market is still optimistic in the third quarter.
Du Shuqin, general manager of Yangming Shipping, mentioned at the law meeting held in June that he was often asked whether freight rates will continue to rise recently, whether it will be because shippers ship in advance, and the peak season will end early, he believes that high freight rates are expected to remain until the end of this year.
He also reminded that the US East Coast labor contract will expire on September 30, and the new negotiation process between the two sides is also an important variable in the market, which needs special attention in the future.
For this year's performance, he analyzed that the performance generally reflects the freight rate of 2 months ago. According to the Shanghai export container comprehensive freight index, freight rates continued to rise from the end of April to July this year, which means that shipping companies will still perform better in the third quarter.
Speaking of performance, the latest results of Evergreen Shipping and Yangming Shipping are very encouraging.
Evergreen Shipping latest revenue data
Yangming Shipping latest revenue data
Although no earnings figures have been released, both companies are expected to post significant earnings growth on the back of high freight rates.
Not long ago, the senior management of Evergreen Shipping and Yangming Shipping also made a judgment on the market.
At the shareholders' meeting held in May, Wu Guanghui, general manager of Evergreen Shipping, said that there was a shortage of boxes in the Far East export market, which caused panic among European and American importers and made up inventory in advance, making the peak season ahead of schedule. It remains to be seen how long restocking by European and American importers will last, but the market is still optimistic in the third quarter.
Du Shuqin, general manager of Yangming Shipping, mentioned at the law meeting held in June that he was often asked whether freight rates will continue to rise recently, whether it will be because shippers ship in advance, and the peak season will end early, he believes that high freight rates are expected to remain until the end of this year.
