Zhen Mao Zheng, who comes from a financial background with Citibank and the National Development Council, was brought in as chairman in 2020 to rescue Yang Ming Marine Transport from its gradual revenue decline in the previous ten years.

His clear goals were to turn losses into profits and increase the cash flow ratio. They were achieved ahead of schedule due to the sudden global demand in shipping triggered by the acceleration of e-commerce in the latter half of 2020, and the resulting port congestion that led to freight rate hikes.

Yang Ming’s net profit reached NT$404.9 million in 2020, enabling the company to order new ultra-large ships upgraded with smart technology, which will also reduce fuel usage and carbon emissions by one-third. Yang Ming is the ninth-largest container shipping line in the world operating 87 container ships, and along with Evergreen and Wan Hai, they are the top three in Taiwan.