STRATEGIC DECISION: With a lessor in a distressed financial situation, Yang Ming had to recognize an estimated loss of NT$1.38 billion in its accounts for the third quarter
Date: Nov 16, 2019
By: Kao Shih-ching / Staff reporter
Yang Ming Marine Transport Corp (陽明海運) has posted a widened quarterly loss for last quarter after a strategic decision not to exercise options with respect to two formerly chartered vessels cost it NT$1.38 billion (US$45.19 million).
Last quarter’s net loss deepened to NT$1.37 billion, compared with a net loss of NT$909 million in the same period last year.
That translated into losses per share of NT$0.53, it said.
Keelung-based Yang Ming has been struggling to turn a profit after it returned to the black briefly in the fourth quarter last year. [FULL STORY]