Yang Ming Marine Transport Corporation (“Yang Ming”) held its 407th Board Meeting today (12) and approved the financial results for 2025 Q3. For the period, Yang Ming reported consolidated revenues of NT$ 42.09 billion (US$ 1.35 billion), after-tax profit of NT$ 6.05 billion (US$ 193.69 million), and earnings per share (EPS) of NT$ 1.73.
For the first three quarters of 2025, the consolidated revenues totaled NT$ 126.27 billion (US$ 4.04 billion), with after-tax profit of NT$ 14.81 billion (US$ 474.22 million) and cumulative EPS of NT$ 4.24 per share. Compared with the same period in 2024, weaker freight rates resulted in softer profitability. Despite persistent global trade-policy uncertainty and elevated geopolitical risks, Yang Ming has continued to maintain schedule reliability and enhance operational efficiency, supporting steady business performance.
According to the IMF World Economic Outlook released in October, global economic growth for 2025 was revised upward to 3.2% from 3.0% projected in July, reflecting a milder-than-expected impact from tariffs. However, the 2026 forecast was slightly lowered to 3.1%. Meanwhile, the S&P Global Manufacturing PMI stood at 50.8 in October, indicating sustained yet modest expansion. Manufacturing activity improved in India, Thailand, and Vietnam, while the U.S. manufacturing sector showed a slight improvement amid inventory pressures. China’s manufacturing sector also recorded a mild upturn. Overall, global manufacturing remained in mild expansion, while policy uncertainty and evolving tariff measures could continue to affect economic growth.
In the container-shipping market, Alphaliner’s October 2025 projection estimated global capacity growth at 6.8% and demand growth at 2.0%, implying continued oversupply. However, the implementation of environmental regulations, such as the EU Emissions Trading System (EU ETS) and FuelEU Maritime, together with stricter decarbonization requirements, is expected to accelerate the phase-out of older vessels and moderate effective capacity through slow steaming and fleet renewal.
Furthermore, the temporary pause in U.S.–China tariff tensions may help stimulate pre-Lunar New Year shipment demand on Trans-Pacific routes. The Intra-Asia and Middle East markets are expected to remain steady, supported by stable demand. Nevertheless, continuing Red Sea disruptions and Cape of Good Hope rerouting, along with port congestion in Europe, may continue to affect capacity deployment.
Yang Ming will continue to closely monitor market developments and respond with agility through service-network optimization and operational adjustments. The company will further refine its business strategies and maximize space utilization to maintain stable performance amid a complex and dynamic global environment.
