Evergreen reports loss amid “financial tsunami”

Evergreen reports loss amid “financial tsunami”

Evergreen reports loss amid “financial tsunami”

   Taiwan’s Evergreen Marine Group said it had a third quarter after-tax net loss of NT$7.29 billion ($224 million) compared with a profit of NT$1.49 billion in the year-earlier period.

   Evergreen said it “still suffered from the worldwide financial tsunami and the operation environment did not improve and the consuming requirements from Europe and the U.S. hadn't bounced back yet.”

   The company said it had operating revenue of NT$11.3 billion ($347 million) in the quarter ending Sept. 30, compared to NT$17.4 billion ($534 million).

   Earlier this week, Evergreen said it will raise rates on cargo moving from North America to Asia, Australia and the Middle East, and from North America to Europe, effective Dec. 1.