Evergreen Marine’s annual profit soared in 2022 as it continued to benefit from unprecedented strength in the container market, even though spot freight rates returned to historical norms later in the year.

The Taiwan-listed liner operator posted a profit of TWD 367bn (nearly $12bn) last year, up from TWD 262bn for 2021.

Revenue came in at TWD 627bn, a slump from TWD 489bn the previous year.