Taiping Shipping s net profit tripled to more than 1.7 billion yuan last year

Meanwhile, the company's earnings before interest and taxes (EBITDA) improved, from $566.17 million to $1.692 million.

Taiping Shipping released its full-year results for fiscal year 2024 on Friday (May 16). The company's revenue also rose 49% last year to $4.305 billion. This is mainly driven by the strong container shipping business.

Taiping Shipping Company is the 12th largest container shipping company in the world and the largest in Southeast Asia.

Benefiting from a significant increase in operating revenue and effective management costs, local shipping company Pacific International Line achieved net profit after tax of US$1.342 billion (approximately S$1.737 billion) in fiscal 2024, more than three times higher than US$306.93 million a year ago.