Tough Time for Container Carriers: Yang Ming Q1 Loss; 23% Drop in April 2020 Volumes, Uncertain Forecast.

1. YANG MING reported a loss of $27 Million during the First Quarter 2020. None of the Container Carriers are doing well with many having ships laid up and/or blanking sailings. (See Attached)

2. Freight Shipments continue to do very poorly. They were off 23% in April on a Year to Year basis. Slow recovery is in the forecast but whether or not they return to normal by the end of 2020 is still in doubt. (See Attached)