Evergreen Marine Corp. (EMC), the Taiwan listed arm of the Evergreen Group has
reported a 10% MoM drop (8.5% in NTD) in operating revenue in August. The point
of focus is the sequential change, which is larger than the CCFI's 6% MoM drop.
It is unusual for carriers to report sequential revenue drops in August, during
what should have been the middle of the usual peak shipment season. The last
time EMC reported a larger sequential drop in any month in 3Q was in September
2011.
EMC is expected to