Shipping Giants' April Revenue Increases; Strong Freight Rates Expected Post-May Day Holiday

Evergreen Marine reported April consolidated revenue of NT$31.359 billion, up 14.14% month-on-month and 4.51% year-on-year, attributing the rise to increased international shipping rates amid ongoing US-Iran tensions. Yang Ming Marine's April revenue was NT$14.228 billion, up 14.23% month-on-month and 13.88% year-on-year, driven by restocking demand. Wan Hai Lines reported April consolidated revenue of NT$12.931 billion, up 22.88% month-on-month and 13.05% year-on-year. The companies anticipate stable cargo volumes before the summer peak season. Factors supporting strong freight rates include restocking demand post-China's May Day holiday and geopolitical influences. Increased operating costs due to rising oil prices and port congestion are also leading to freight rate adjustments in April and May.