Monday, November 2, 2009

Evergreen Join The Container Shipping Line Downturn

Figures Down After Hopeful Statements
Shipping News Feature

TAIWAN – The leaves of the Evergreen tree are looking extremely autumnal today as news comes in of an unaudited loss of circa $80 million for the quarter to September. The container carrier who we reported on just two weeks ago as hopeful of increasing its market share through acquisitions after an interview with founder Dr Chang Jung-fa, has proved to be in a worse situation than analysts predicted.

Evergreen join all the major container fleets in the trend toward losses throughout the period when announcing its total losses for the first nine months of the year as around $225 million and the Q3 figure is reckoned to be up to five times greater than industry experts polled by Thomson Reuters had reckoned previously.

For a full report of the major container lines recent woes you can follow the links from our story of three days ago.