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Yang Ming set to give company-wide increments

After years of losses, Taiwanese liner operator Yang Ming Marine Transport is set to give company-wide staff increments for the first time in several years, amid expectations of a record US$100 billion profit for the container liner industry in 2021.

Speaking at the 60th anniversary of the Master Mariners Association, Yang Ming chairman Cheng Cheng-mount disclosed that while the company’s business has been good, the company continues to face pressure from the Ministry of Transport and Communications and the Ministry of Economic Affairs to ensure that local shippers get their exports out on time.

In order to do so, Yang Ming had launched several ad hoc sailings.

Acknowledging that the company offers the least staff benefits and lowest salaries among Taiwan’s three largest liner operators, Evergreen Marine Corporation and Wan Hai Lines, Cheng confirmed that Yang Ming will take the lead in raising staff salaries, and urged peers to do likewise.

Non-managerial staff is expected to get increments of between 4% and 5%, while the increments for other staff levels have not been decided.

“In the past, all I heard was that shipping was about the people, ship safety and cargo security. I didn’t expect the work to be so exciting. Now, congestion in the world’s major ports is serious and shipping schedules aren’t so easy to arrange. With the ships mostly overseas, employees have a very heavy burden,” said Cheng during his speech.

Martina Li
Asia Correspondent

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