Taiwan's Evergreen Marine swings to net loss in Q2

Published: 30 Aug 2009 21:53:14 PST

TAIPEI, Aug 31 - Taiwan's Evergreen Marine <2603.TW>, the world's fourth-largest container line, swung to a net loss in the second quarter from a year ago, the firm said on Monday.

The loss was smaller than the forecast of three analysts surveyed by Reuters, who were looking for an average loss of T$4.1 billion. Evergreen Marine had a net loss of T$1.976 billion, compared with a net profit of T$829 million in the same period last year.

In the first quarter, Evergreen Marine reported a net loss of T$2.738 billion on falling prices and lower volumes due to the global economic downturn.