By PortalPortuario Editorial Staff
@PortalPortuario
New financial reports from Asian carriers revealed that the third quarter of 2024 was the strongest period since the economic boom caused by the Covid-19 pandemic, marking a high point in the current earnings cycle.
According to the consultant Lloyd’s Listpublicly traded Taiwanese container shipping lines such as Evergreen, Which Ming y Wan Twopublished their financial results highlighting increases in their operating income.
In the case of Evergreen, the company recorded 44% growth in the third quarter of 2024, reaching USD 4.7 billion. This figure represents its best quarterly performance since the same time frame in 2022, during the global supply chain crisis.
Yang Ming and Wan Hai also reported significant increases. Yang Ming reported a 39% increase in revenue, reaching its highest level since the third quarter of 2022, while Wan Hai saw 43% growth in the same period, also exceeding levels recorded since 2022.
Jefferies analyst Omar Nokta noted that these results from Taiwanese airlines could have positive implications for Zim, the Israeli transportation company listed on the stock exchange. USAanticipating a similar impact on its upcoming financial reports.
“Zim has tended to see revenue changes similar to those of Taiwanese players given its relatively high spot exposure,” the analyst wrote in a note to clients.
“Zim generated $1.93 billion in revenue during the second quarter of 2024, while consensus estimates for the third quarter of 2024 stand at $2.31 billion, up 20% from the previous quarter,” Nokta concluded.
