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Recently, Evergreen Shipping, Taiwan's largest shipping company, issued a number of announcements, involving equity acquisition and the results of the first three quarters.
According to the announcement, Evergreen Shipping (Asia), a subsidiary of Evergreen Shipping, acquired a 100% stake in Panama Kerang Container Terminal for a transaction value of US$268 million.
At the recent press conference on the major information briefing, Xie Huiquan, general manager of Evergreen Shipping, explained the transaction in detail, saying that after the transaction, the company will strengthen its terminal layout in the American market.
According to reports, Panama Kerang Container Terminal is an important transshipment hub port for Evergreen Shipping and its subsidiaries in the Americas. In order to strengthen its presence in the Americas, Evergreen Marine (Asia) acquired 9%, 40% and 51% stakes in Panama Kerang Container Terminal through two subsidiaries, Evergreen Hong Kong and Clove, and related person Ally Holding Ltd.
In addition, Evergreen Marine Asia also received US$46 million in transactions from Hutchison Ports Med South Limited, Hutchison Ports North Africa Limited and Abouqir Port Construction and Management Company. Acquired a 20% stake in Abu Qir Container Terminal Company SAE.
According to reports, the port of Aboukir is located on the northern Mediterranean coast of Egypt and has a superior geographical location. With this investment, Evergreen Shipping will strengthen its Mediterranean route layout.
Evergreen Shipping has increased its global layout and is inseparable from the support of performance.
According to the latest announced results, in the first three quarters, Evergreen Shipping achieved operating income of NT$516.26 billion (about US$16.12 billion), a year-on-year increase of 54.85%; The net profit attributable to the parent company was NT$304.35 billion (approximately US$9.50 billion).
Xie Huiquan, General Manager of Evergreen Shipping
In this regard, Xie Huiquan said that in the first half of this year, the overall revenue performance of the shipping market was eye-catching, affected by inflation and the Russian-Ukrainian war, the traditional peak season in the third quarter was flat, and revenue also declined compared with the previous two quarters.
At the same time, Xie Huiquan predicted that revenue may decline again in the fourth quarter due to the imbalance between supply and demand. However, he stressed: "Although the performance in the third and fourth quarters was not as expected, on the whole, the full year will still be good, even better than last year." ”
For the prospects of the shipping market in 2023, Xie Huiquan stressed that the quality of the market depends on supply and demand. The demand side depends on the evolution of the dollar, inflation and the Russian-Ukrainian war. The supply side increased by 8.2% due to the delivery of new ships, and after the port congestion was alleviated, 5%~7% of the space could be released.
However, the implementation of new international environmental protection regulations such as the 2023 Operational Carbon Intensity Index (CII) will also constrain the effective supply of the shipping industry. Therefore, Xie Huiquan believes that the growth of actual supply is not as serious as everyone thinks, and the attitude towards the market in 2023 is relatively conservative but not pessimistic.
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