TAIPEI (Taiwan News) — Evergreen Marine Corp. on Monday reported its second-highest May revenue on record, driven by stronger cargo volumes across regional routes and firmer global freight rates.
The company posted consolidated revenue of NT$34.66 billion (US$1.1 billion) for May. The figure represented a 10.51% increase from the previous month and a 31.41% rise from the same period a year earlier, according to CTEE.
Evergreen cited an Alphaliner report projecting global shipping capacity to grow 3.9% this year, while cargo volumes are expected to rise 2.5%. The company said Red Sea route disruptions and limited growth in effective shipping supply are expected to keep supply and demand relatively balanced.
Normal operations on Red Sea routes, which have been disrupted by geopolitical tensions, are unlikely to resume in the near term. Evergreen said it remains cautiously optimistic about market conditions in the second and third quarters.
The third quarter is typically the peak season for Europe and US routes. On major long-haul trade routes, new annual contract rates are broadly similar to last year, and most large and mid-sized customers have already completed negotiations.
