Taiwanese liners' industry first top line reports came out over the last three
days. In July, Evergreen delivered another record revenue while both Yang Ming
and Wan Hai saw their top line came of 5% and 6% MoM respectively.
In aggregate, the Taiwanese liners' top line in NTD was down 1% MoM. Since USD
has strengthened further in July, these liners' top line in USD maybe down 2%
MoM.
Given July volume usually is higher than same in June. Average freight rates may
be down sequentially during J