<p class="MsoNormal"><span style="font-size:14.0pt;line-height:115%;font-family:
"Times New Roman",serif">Taiwanese container shipping line <b>Yang Ming Marine
Transport Corp.</b> has released its financial results for the first quarter of
2026, revealing a steep contraction in profitability compared to the previous
year. The results underscore a broader stabilization and cooling across the
global container shipping sector following the historic booms of recent years.<o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;line-height:115%;
font-family:"Times New Roman",serif">Financial Breakdown: Revenue & Income
Slump<o:p></o:p></span></b></p>
<ul style="margin-top:0cm" type="disc">
<li class="MsoNormal"><b><span style="font-size:14.0pt;line-height:115%;font-family:"Times New Roman",serif">The
Numbers</span></b><span style="font-size:14.0pt;line-height:115%;
font-family:"Times New Roman",serif">: Yang Ming’s consolidated revenue
for Q1 2026 stood at <b>NT$38.66 billion ($1.22 billion)</b>, marking a
15% decline compared to Q1 2025.<o:p></o:p></span></li>
<li class="MsoNormal"><b><span style="font-size:14.0pt;line-height:115%;font-family:"Times New Roman",serif">Profit
Contraction</span></b><span style="font-size:14.0pt;line-height:115%;
font-family:"Times New Roman",serif">: Net profit after tax plunged <b>81.5%
year-on-year to NT$1.44 billion ($45 million)</b>, yielding an earnings
per share (EPS) of NT$0.41.<o:p></o:p></span></li>
<li class="MsoNormal"><b><span style="font-size:14.0pt;line-height:115%;font-family:"Times New Roman",serif">Primary
Drivers</span></b><span style="font-size:14.0pt;line-height:115%;
font-family:"Times New Roman",serif">: Management cited a combination of
two major factors: a downward correction in global average freight rates
compared to the elevated base of early 2025, and complex fleet scheduling
disruptions stemming from ongoing geopolitical challenges in the Middle
East.<o:p></o:p></span></li>
</ul>
<p class="MsoNormal"><b><span style="font-size:14.0pt;line-height:115%;
font-family:"Times New Roman",serif">Supply-Demand Friction & Capacity
Absorption<o:p></o:p></span></b></p>
<ul style="margin-top:0cm" type="disc">
<li class="MsoNormal"><b><span style="font-size:14.0pt;line-height:115%;font-family:"Times New Roman",serif">The
Oversupply Threat</span></b><span style="font-size:14.0pt;line-height:
115%;font-family:"Times New Roman",serif">: According to Alphaliner data
cited by the carrier, global container supply is projected to grow by <b>3.8%
in 2026</b> (with 1.61 million TEUs of newbuild capacity scheduled for
delivery), outstripping global demand growth of <b>2.5%</b>.<o:p></o:p></span></li>
<li class="MsoNormal"><b><span style="font-size:14.0pt;line-height:115%;font-family:"Times New Roman",serif">The
Rerouting Counterweight</span></b><span style="font-size:14.0pt;
line-height:115%;font-family:"Times New Roman",serif">: Despite the
unfavorable supply-demand metrics, Yang Ming noted that systemic
operational detours for navigation safety around Africa’s Cape of Good
Hope have continued to absorb a significant portion of this excess vessel
capacity.<o:p></o:p></span></li>
<li class="MsoNormal"><b><span style="font-size:14.0pt;line-height:115%;font-family:"Times New Roman",serif">Mitigation
Strategy</span></b><span style="font-size:14.0pt;line-height:115%;
font-family:"Times New Roman",serif">: To counter market volatility, the
board has approved a major <b>container renewal plan</b> to introduce
newly built, self-owned units. This asset modernization is designed to
lower container rental expenses and trim long-term vessel maintenance
costs.<o:p></o:p></span></li>
</ul>