YANGMING MARINE POSTS SECOND-HALF LOSS
Yangming Marine Transport Corp., Taiwan’s second-largest shipping
company, reported a NT$580-million loss ($27 million) during the second
half of 1998.
Yangming blamed the loss on cargo imbalance between the U.S. and Asia.
The line, which adopted a special six-month fiscal year in 1998 to bring
its accounting period in line with calendar year 1999, reported sales of
NT$19.26 billion ($897 million).
Yang Ming also reported that it plans to borrow NT1.55 billion to
purchase 22,000 TEUs worth of shipping containers later this year.