Taiwan's Yang Ming Marine Transport has seen losses plunge in the second quarter as revenue rose.

The container line said the net deficit to 30 June was TWD 407.17m ($13.42m), against TWD 4.78bn in 2016.

Revenue grew to TWD 33.22bn from TWD 27.77bn, with costs stable.

President Vincent Lin had said earlier this year that results in the second quarter would be better than in the first, on the back of higher rates for Europe.