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U-Ming bullish on global recovery, rise in iron ore By Kao Shih-ching / Staff reporter U-Ming Marine Transport Corp (裕民航運), a bulk shipper and member of Far Eastern Group (遠東集團), is upbeat about the bulk shipping business in the coming quarters on expectations of a recovery in the global economy, a rise in iron ore production and an expansion of grain exports from the US, the company said yesterday. U-Ming reported net profit of NT$345.81 million (US$12.43 million) for the first quarter of this year, or earnings per share of NT$0.41, compared with a net loss of NT$384 million in the same period of last year. ....
Synnex Technology looks to book gain after unloading of Concentrix shares By Lisa Wang / Staff reporter Synnex Technology International Corp (聯強國際), the nation’s second-biggest electronics distributor, yesterday said that it expects to book a gain of NT$727 million (US$26 million) from the disposal of some Concentrix Corp shares listed on the NASDAQ Composite. The Taipei-based company said in a statement that the transaction is part of its financial management. Synnex distributes a wide range of electronic products, from Fitbit Inc’s wearable devices to Asustek Computer Inc’s (華碩電腦) notebook computers. The logo of Synnex Technology International Corp is displayed on the facade of the company’s headquarters in Taipei on March 8, 2019. ....
Wisdom Marine posts NT$895m first-quarter profit By Kao Shih-ching / Staff reporter Wisdom Marine Lines Co Ltd (慧洋海運) reported pretax profit of NT$895.92 million (US$31.51 million) for the first quarter, compared with a net loss of NT$123 million a year earlier, thanks to rising charter rates, the company said on Tuesday. Wisdom’s first-quarter pretax profit surpassed its net profit of NT$111.41 million for the whole of last year, while its pretax earnings per share were NT$1.2 in the first quarter, higher than earnings per share of NT$0.15 last year, it said in a statement. Wisdom, the nation’s largest bulk shipper in terms of fleet size, reported NT$1.37 billion in revenue for last month, up 45.9 percent year-on-year and the highest in a single month, it said. ....
Evergreen denies it was sued over Suez blockage By Kao Shih-ching / Staff reporter Evergreen Marine Corp (長榮海運) on Friday dismissed a foreign news report that it was being sued by the Japanese owners of the Ever Given container ship, saying that Evergreen is just “an involved party” listed in the lawsuit. Evergreen chartered the Panama-flagged vessel from Japan’s Shoei Risen Kaisha Ltd. The 400m-long ship last month blocked the Suez Canal for six days after it ran aground 6 nautical miles (11km) from the southern end of the estuary. Evergreen Marine Corp president Eric Hsieh speaks at an investors’ conference in Taipei on Thursday. The company on Friday dismissed a foreign news report that it was being sued by the Japanese owners of the Ever Given container ship, saying that Evergreen is just “an involved party” listed in the lawsuit. ....