来源：American Shipper 2017-01-20
翻译：国际海事信息网 姜文杰 张运鸿
“我们对于YMM的高额债务感到担忧，基于其不断增大的金融风险。即使在基础货运市场复苏的大环境下，未重组的债务负担对于我们来说，是一个红色预警，是一个寻求出售的信号。”在Drewry金融研究服务部门主管Rahul Kapoor和公司集装箱运输首席分析师Nilesh Tiwary的报告中如是说。
Drewry expresses concern over Yang Ming's high debt
A report issued Thursday by the investment research arm of Drewry on container shipping company Yang Ming Marine Transport Corp. (YMM) expressed concern about the Taiwan-based company’s high level of debt.
“YMM’s high debt is a great cause for concern for us given the heightened financial risks. Even with recovery in the underlying freight market, the debt burden without a restructuring is a red flag and a clear sell signal for us.” according to the report from Rahul Kapoor, director of Drewry Financial Research Services, and Nilesh Tiwary, lead analyst, container shipping at the company.
Yang Ming responded to the report today in a customer advisory that said while it "has not been immune to the ongoing challenges the entire shipping industry has experienced this past year" it has "proactively reorganized internally to effectively reduce its operating costs."
Yang Ming said it stands apart from many of its competitors. First, Yang Ming’s majority ownership interest, unlike that of its competitors, is held by the Ministry of Transport and Communication (MOTC) of the Republic of China (Taiwan). In fact, Yang Ming is one of a few global common carriers that can claim a close relationship with a national government. Second and equally important, Yang Ming has full access to staunch government-backed funding for approximately U.S. $ 2 billon."
It explained that "Yang Ming is one of the few carriers that has access to this vast support" that was announced by the Taiwan government in November.
"Finally, Yang Ming has not approached its creditors with any demands to restructure any part of its debt and does not have any intention to do so going forward." the carrier said.