Yang Ming Marine (YMM) reported NTD16.3bn or $534mn (on 30.6 NTD/$) for December revenue. In US dollars, the counter was down 58% YoY and 14% MoM. In aggregate, 4Q22 revenue was $1.9bn, down $1.4bn or 42% QoQ. Given most of of the decline was driven by much lower freight rates. YMM's 4Q net earnings could be down over $1bn, against the $1.6bn reported for 3Q.
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