Container Shipping Giants' Q1 Revenue Down, European and South Asian Ports Congested Due to Escalating Middle East War
Taiwan's three major container shipping companies, Evergreen Marine, Yang Ming, and Wan Hai Lines, reported reduced first-quarter revenues, though March revenues showed a month-on-month increase. Evergreen Marine's March consolidated revenue was NT$27.522 billion, up 1.41% from February but down 17.82% year-on-year. Escalating conflict in the Middle East has led to congestion in key ports in Europe and South Asia, impacting shipping schedules and increasing operational costs.
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- 📰 Published: April 9, 2026 at 20:24
- 🔍 Collected: April 9, 2026 at 21:00 (36 min after Published)
- 🤖 AI Analyzed: April 15, 2026 at 19:34 (142h 34m after Collected)
Evergreen Marine today announced its March consolidated revenue of NT$27.522 billion. Affected by the escalating Middle East war, many hub ports in Europe and South Asia showed signs of congestion in March. March revenue increased by 1.41% from February but decreased by 17.82% compared to the same period last year; cumulative consolidated revenue for the year reached NT$86.56 billion, a 21.29% decrease from the same period last year.
Yang Ming's single-month revenue in March was NT$12.455 billion, a 0.09% month-on-month increase but a 5.85% year-on-year decrease. Cumulative revenue reached NT$38.66 billion, a 15.06% year-on-year decrease.
Looking ahead at the shipping market, Yang Ming stated that after the Lunar New Year, factories gradually resumed work, driving a recovery in cargo demand, which helps maintain market momentum. However, geopolitical tensions have led to drastic fluctuations in international oil prices, pushing up fuel costs and increasing operational pressure. Furthermore, due to the obstruction of navigation in the Strait of Hormuz, shipping companies, for safety considerations, have successively adjusted their routes to maintain cargo flow in the Persian Gulf region, indirectly increasing the risk of congestion at alternative ports.
Wan Hai Lines' March consolidated revenue was NT$10.522 billion, a 0.55% month-on-month decrease and a 10.71% year-on-year decrease; cumulative annual revenue reached NT$33.64 billion, a 9.3% year-on-year decrease.
Wan Hai observed that both volume and price performance in March rebounded from February, but port congestion caused delays in shipping schedules, deferring some revenue to April, resulting in a slight decline in revenue. The Shanghai Containerized Freight Index (SCFI) has risen for two consecutive weeks recently, indicating a stable upward trend in market freight rates. In addition, the Muslim holy month of Ramadan ended in late March, which helps the pace of shipments gradually return to normal.
Wan Hai pointed out that the conflict in the Middle East is still ongoing. Although its direct impact on Wan Hai's cargo volume and revenue accounts for less than 5%, the war has led to rising international oil prices and increased related costs such as rerouting, fuel, and insurance, as well as a significant increase in overall operating costs. To maintain the stability of route services and operational quality, Wan Hai's freight rates on various routes have successively reflected the increased operating costs, with two rounds of adjustments implemented in April for intra-Asia routes. (Editor: Huang Kuo-lun) 1150409
Yang Ming's single-month revenue in March was NT$12.455 billion, a 0.09% month-on-month increase but a 5.85% year-on-year decrease. Cumulative revenue reached NT$38.66 billion, a 15.06% year-on-year decrease.
Looking ahead at the shipping market, Yang Ming stated that after the Lunar New Year, factories gradually resumed work, driving a recovery in cargo demand, which helps maintain market momentum. However, geopolitical tensions have led to drastic fluctuations in international oil prices, pushing up fuel costs and increasing operational pressure. Furthermore, due to the obstruction of navigation in the Strait of Hormuz, shipping companies, for safety considerations, have successively adjusted their routes to maintain cargo flow in the Persian Gulf region, indirectly increasing the risk of congestion at alternative ports.
Wan Hai Lines' March consolidated revenue was NT$10.522 billion, a 0.55% month-on-month decrease and a 10.71% year-on-year decrease; cumulative annual revenue reached NT$33.64 billion, a 9.3% year-on-year decrease.
Wan Hai observed that both volume and price performance in March rebounded from February, but port congestion caused delays in shipping schedules, deferring some revenue to April, resulting in a slight decline in revenue. The Shanghai Containerized Freight Index (SCFI) has risen for two consecutive weeks recently, indicating a stable upward trend in market freight rates. In addition, the Muslim holy month of Ramadan ended in late March, which helps the pace of shipments gradually return to normal.
Wan Hai pointed out that the conflict in the Middle East is still ongoing. Although its direct impact on Wan Hai's cargo volume and revenue accounts for less than 5%, the war has led to rising international oil prices and increased related costs such as rerouting, fuel, and insurance, as well as a significant increase in overall operating costs. To maintain the stability of route services and operational quality, Wan Hai's freight rates on various routes have successively reflected the increased operating costs, with two rounds of adjustments implemented in April for intra-Asia routes. (Editor: Huang Kuo-lun) 1150409