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Evergreen and Yang Ming set to receive state-backed loans

Evergreen says shipping market remains uncertain amid the pandemic fallout and the government financial programme can enrich the company’s working capital. Yang Ming chairman Bronson Hsieh was quoted as saying that the government financial relief was of great help, adding authorities in Europe, South Korea and Singapore all have lent a hand to domestic shipping companies amid the coronavirus disruption

Yang Ming chairman expects the carrier to trim its losses in the second quarter of the year and to fare even better in the second half of 2020 with the absence of a second wave of the pandemic outbreak

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