Taipei, June 15 (CNA) Taiwan's Yang Ming Marine Transport Co. said Friday it will strengthen cooperation with its regional partners and seek to better tap the Asia-Pacific market to improve its suffering bottom line.
Last year, the container ship operator lost NT$9.39 billion (US$313 million) on a revenue of NT$118.5 billion, compared with profits of NT$11.7 billion in 2010.
To put the shipping company back on a growth trajectory, the company will strengthen cooperation with members of the CKYH group, also known as the Green Alliance, to improve services on the Pacific, European and Asian trade lanes, said Robert Ho, the company's president, at a shareholders meeting in Taipei.
The shipping alliance comprises China COSCO Holdings Co., Japan's Kawasaki Kisen Kaisha, Yang Ming Marine Transport Corp. and South Korea's Hanjin Shipping Co.
The group will also seek to better work with Evergreen Marine Corp., another leading Taiwanese container shipper, and China Shipping Company on trade lines in western and northern Europe.
Moreover, the group will seek to better tap the emerging Asia market, especially trade lanes within China and ones between the Taiwan Strait, to expand its market and competitive edge.
The group will attempt to better grasp the trends in China's logistics service industry and form a partnership with Sinotrans Ltd., a Chinese logistics and transportation service provider, Ho said.
(By Chao Hsiao-hui and Scully Hsiao)