Taiwan's Evergreen Marine posts steep loss in Q3

Published: 02 Nov 2009 00:40:13 PST

TAIPEI, Nov 2 - Taiwan's Evergreen Marine, the world's fourth-largest container line, posted a net loss of T$2.58 billion ($80 million) in the third quarter, the firm said on Monday.

The result was based on Reuters calculations after the company said it had a loss of T$7.29 billion in the January-September period.

The quarterly result was worse than the T$480 million loss from a consensus forecast of nine analysts surveyed by Thomson Reuters I/B/E/S.

Evergreen has been hurt by global marine shipping competition and the recent global economic downturn, which has curbed exports, said Stone Lin, an analyst with Yuanta Securities in Taipei.

Before the result was released, Evergreen shares ended down 2.7 percent, trailing the main index's 0.07 percent loss.