Industry News

Yang Ming today issued an update on its financial status to mitigate shipper and service provider concerns after the suspension of its shares on the Taiwan Stock Exchange last week.

The carrier, part of THE Alliance, said it understood that its customers “have access to opinions and news from a variety of third-party sources”, but wanted to “make clear certain developments in our recapitalisation plan”.

Yang Ming has been under considerable pressure to clarify its decision to temporarily suspend share dealing, and shippers are worried that the troubled Taiwanese carrier could follow Hanjin Shipping into bankruptcy.

One major UK shipper told The Loadstar recently that following a review of its approved carriers, a decision had been taken not to use Yang Ming until there was an improvement in its financial position.

Read full article >