Strong freight rates benefit freight forwarders
Freight forwarders Dimerco and T3EX saw robust sales growth, as ocean freight rates soared due to demand exceeding supply amid COVID-19 pandemic
By Kao Shih-ching / Journalist
Freight forwarder Dimerco Express Corp (中 菲 行) yesterday reported strong revenues last month and strong second quarter net profits due to still high air and ocean freight shipping rates.
Last month, the Taipei-listed company’s revenue jumped 73% from the previous year to NT $ 3.11 billion ($ 111.82 million), he said. indicated in a press release.
Revenue from ocean freight shipping jumped 179% to NT $ 1.44 billion, or 46.4% of the total, from about 30% before the COVID-19 pandemic, he said.
Sea freight rates have increased due to a labor shortage and congestion at seaports around the world amid the pandemic, he said.
Revenue from Dimerco’s air freight forwarding business also grew 35% annually to NT $ 1.56 billion last month, up 50%, he said.
In a separate statement, the transport company also released its second quarter results, which show net profit increased 19% to NT $ 561 million in the second quarter, from NT $ 471 million in the same period. Last year. Earnings per share reached NT $ 4.45, compared to NT $ 3.74.
For the first half of this year, net profit increased 51% to NT $ 861 million from NT $ 569 million a year earlier, or earnings per share of NT $ 6.84, from NT $ 4.52 NT dollars over the same period last year, according to company data.
Meanwhile, T3EX Global Holdings Corp (台 驊 國際 投資 控股), a freight forwarder listed on the Taiwan Stock Exchange, said its revenues climbed 176% annually to NT $ 3.36 billion last month, the sales of the freight forwarder rose 288% to NT $ 2.56 billion. , a monthly record, he said in a statement.
“The demand for marine transportation continued to exceed supply, which drove up ocean freight rates, but we, having good relationships with shippers, were able to reserve more capacity to meet customer needs and generate new income, ”he said.
Sales of its air freight forwarding operation increased 49% to NT $ 523 million, T3EX said, adding that it does not expect air freight rates to drop sharply in the near term. because supply remains limited and some customers have been forced to switch to shipping by sea. .
For the first seven months of this year, T3EX revenues totaled NT $ 17.1 billion, up 125% from the previous year and significantly exceeding revenues for the whole of last year, did he declare.
Southeast Asian markets recorded the fastest growth of 228% due to a continued shift in global supply chains, he added.
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