Taiwan’s Evergreen Marine Corp reported strong first-half earnings despite a weakening of spot freight rates for container ships.

In a regulatory filing to the Taiwan Stock Exchange, Evergreen disclosed a record profit of TWD 102.3bn ($3.4bn) for the second quarter, up 143% from the same period last year.

Consolidated revenue between April and June was TWD 175bn, an increase of 75% from the same quarter in 2021.