Home » Breaking News, Maritime » Evergreen still in the red despite Q2 profit

Evergreen Marine Corp., operator of one of the world’s largest container fleets, saw its first quarterly profit after three straight quarterly losses.

The positive performance failed, however, to lift its earnings for the first half of the year out of the red.

Evergreen posted a net income of TWD858 million (US$28.7 million) in the three months through June from US$2.7 million a year earlier, which the Taiwan-based box ship attributed to higher freight rates.

Its consolidated sales for the second quarter of 2012 jumped 32 percent from the same period a year ago.

But for the first six months of the year, Evergreen registered a net loss of $80 million from a profit of $46 million for the same period last year.

From January to June 2012, the company recorded a revenue improvement to $264 million from $254 million.


Photo: jaybergesen

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