SILKRAILS.WORDPRESS.com (GCTL8.com – FocusAsia Media Ltd)

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Yang Ming

TAIPEI, Apr 22 (FAM) – After years of losses, Taiwanese container shipping line Yang Ming yesterday suspended trading in its stocks on the Taiwanese stock exchange until 4 May, to enable it to reduce its equity capital by more than 50%.

The drastic step follows the January announcement that the Taiwanese line was pursuing a number of strategies including seeking government and private investment in a bid to recapitalise after losing more than $650 million in less than two years.

Nilesh Tiwary and Rahul Kapoor, Singapore-based analysts at Drewry, told Lloyd’s Loading List earlier today that Yang Ming’s stock trading suspension was unlikely to herald a repeat of last year’s Hanjin Shipping bankruptcy, which left global supply chains in disarray.

 

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