Wan Hai, Yang Ming Q1 EPS cool down, demand expected to recover in May
Wan Hai and Yang Ming's first-quarter EPS declined due to falling freight rates, but expect a recovery in cargo demand after May, supporting freight rates in Q2-Q3. Dimerco Express Group reports AI-related cargo growth driving performance.
📋 Article Processing Timeline
- 📰 Published: May 13, 2026 at 20:08
- 🔍 Collected: May 13, 2026 at 20:32 (23 min after Published)
- 🤖 AI Analyzed: May 14, 2026 at 02:25 (5h 53m after Collected)
Central News Agency
(Central News Agency reporter Chiang Ming-yen, Taipei 13th) Wan Hai and Yang Ming's EPS declined in the first quarter of this year compared to last year due to falling freight rates. Operators are optimistic that shipping demand will recover after the May 1st holiday, and early stocking for the traditional peak season will pick up, which is expected to drive shipping momentum after May and provide support for freight rates in the second to third quarters. Dimerco Express Group stated that demand for semiconductors and AI infrastructure remains the driving force for air freight.
Wan Hai Lines today's board meeting approved the first quarter financial report. Consolidated revenue was NT$33.641 billion, a year-on-year decrease of 9.3%; net profit attributable to the parent company after tax was NT$7.672 billion, a year-on-year decrease of 12.1%; earnings per share (EPS) was NT$2.73, lower than NT$3.11 in the same period last year.
Wan Hai explained that the operating cargo volume in the first quarter of 2026 increased compared to the same period last year, but revenue and profit declined year-on-year due to the impact of lower freight rates in the shipping market compared to last year.
Looking ahead, Wan Hai believes that if the Middle East situation remains deadlocked, in addition to pushing up international oil price volatility, the prolonged sailing cycle due to port congestion will continue to put pressure on shipping companies' operating costs, which will further reflect in freight rate adjustments. However, from the demand side, cargo owners are trying to ensure supply chain stability, and combined with the early stocking demand for the traditional peak season, it is expected to drive shipping momentum after May and provide support for freight rates in the second to third quarters.
Yang Ming Marine Transport's first-quarter consolidated revenue was NT$38.661 billion, net profit after tax was NT$1.436 billion, and earnings per share (EPS) was NT$0.41, lower than NT$2.23 in the same period last year.
Yang Ming stated that it will seize the recovery of shipping demand after the May 1st holiday and the business opportunities of the traditional peak season, continue to expand cargo sources, improve vessel schedule accuracy and cabin utilization efficiency. In response to business growth needs, Yang Ming Marine Transport also approved a container replacement and renewal plan, providing customers with shipping services through new self-owned containers, while reducing maintenance and container leasing costs.
Dimerco Express Group's first-quarter revenue was NT$7.12 billion, a year-on-year decrease of 0.9%; net profit after tax was NT$230 million, a year-on-year increase of 1.8%; earnings per share (EPS) was NT$1.66, an increase of 1.8% compared to the same period last year.
Dimerco Express Group stated that despite the global logistics market facing challenges such as freight rate pressure, rising geopolitical risks, and adjustments in US tariff policies in the first quarter, Dimerco Express Group's overall profit performance continued to grow thanks to the growth of AI-related cargo volume, increased demand for diversified supply chains, and its global operating network and digitalization capabilities.
Observing the first quarter of 2026, Dimerco Express Group stated that the overall cargo volume continued to expand. Benefiting from customer shipping demand, the group's air cargo volume increased by about 20% compared to the same period last year, and sea cargo volume increased by nearly 10% year-on-year.
In terms of the air freight market, Dimerco Express Group stated that demand from Asia to the United States and Europe remained stable compared to the same period last year. High-tech, semiconductor, and AI infrastructure and high-tech supply chain demand are still the main growth drivers, but due to the gradual recovery of global capacity and the slowdown in the growth of e-commerce cargo volume, market freight rates are still under certain pressure compared to the same period last year.
In terms of the sea freight market, Dimerco Express Group stated that the situation in the Middle East and the potential risks in the Strait of Hormuz have increased market concerns about global energy supply and the stability of shipping channels. Port congestion has increased in major Asian transshipment hubs including Singapore, Malaysia, India, and Sri Lanka, putting pressure on shipping route stability and delivery times. (Edited by Huang Kuo-lun) 1150513
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(Central News Agency reporter Chiang Ming-yen, Taipei 13th) Wan Hai and Yang Ming's EPS declined in the first quarter of this year compared to last year due to falling freight rates. Operators are optimistic that shipping demand will recover after the May 1st holiday, and early stocking for the traditional peak season will pick up, which is expected to drive shipping momentum after May and provide support for freight rates in the second to third quarters. Dimerco Express Group stated that demand for semiconductors and AI infrastructure remains the driving force for air freight.
Wan Hai Lines today's board meeting approved the first quarter financial report. Consolidated revenue was NT$33.641 billion, a year-on-year decrease of 9.3%; net profit attributable to the parent company after tax was NT$7.672 billion, a year-on-year decrease of 12.1%; earnings per share (EPS) was NT$2.73, lower than NT$3.11 in the same period last year.
Wan Hai explained that the operating cargo volume in the first quarter of 2026 increased compared to the same period last year, but revenue and profit declined year-on-year due to the impact of lower freight rates in the shipping market compared to last year.
Looking ahead, Wan Hai believes that if the Middle East situation remains deadlocked, in addition to pushing up international oil price volatility, the prolonged sailing cycle due to port congestion will continue to put pressure on shipping companies' operating costs, which will further reflect in freight rate adjustments. However, from the demand side, cargo owners are trying to ensure supply chain stability, and combined with the early stocking demand for the traditional peak season, it is expected to drive shipping momentum after May and provide support for freight rates in the second to third quarters.
Yang Ming Marine Transport's first-quarter consolidated revenue was NT$38.661 billion, net profit after tax was NT$1.436 billion, and earnings per share (EPS) was NT$0.41, lower than NT$2.23 in the same period last year.
Yang Ming stated that it will seize the recovery of shipping demand after the May 1st holiday and the business opportunities of the traditional peak season, continue to expand cargo sources, improve vessel schedule accuracy and cabin utilization efficiency. In response to business growth needs, Yang Ming Marine Transport also approved a container replacement and renewal plan, providing customers with shipping services through new self-owned containers, while reducing maintenance and container leasing costs.
Dimerco Express Group's first-quarter revenue was NT$7.12 billion, a year-on-year decrease of 0.9%; net profit after tax was NT$230 million, a year-on-year increase of 1.8%; earnings per share (EPS) was NT$1.66, an increase of 1.8% compared to the same period last year.
Dimerco Express Group stated that despite the global logistics market facing challenges such as freight rate pressure, rising geopolitical risks, and adjustments in US tariff policies in the first quarter, Dimerco Express Group's overall profit performance continued to grow thanks to the growth of AI-related cargo volume, increased demand for diversified supply chains, and its global operating network and digitalization capabilities.
Observing the first quarter of 2026, Dimerco Express Group stated that the overall cargo volume continued to expand. Benefiting from customer shipping demand, the group's air cargo volume increased by about 20% compared to the same period last year, and sea cargo volume increased by nearly 10% year-on-year.
In terms of the air freight market, Dimerco Express Group stated that demand from Asia to the United States and Europe remained stable compared to the same period last year. High-tech, semiconductor, and AI infrastructure and high-tech supply chain demand are still the main growth drivers, but due to the gradual recovery of global capacity and the slowdown in the growth of e-commerce cargo volume, market freight rates are still under certain pressure compared to the same period last year.
In terms of the sea freight market, Dimerco Express Group stated that the situation in the Middle East and the potential risks in the Strait of Hormuz have increased market concerns about global energy supply and the stability of shipping channels. Port congestion has increased in major Asian transshipment hubs including Singapore, Malaysia, India, and Sri Lanka, putting pressure on shipping route stability and delivery times. (Edited by Huang Kuo-lun) 1150513
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