China Philippines Bank’s revenue in September was 3.655 billion yuan, a year-on-year increase of 47%, a new monthly high since July 2022.

Qian Wenjun, Chairman of China Philippines Bank. (Provided by China Philippines Bank)

[Reporter Wang Yihong/Taipei Report] China Philippines Bank (5609) September Group Revenue China Philippines Bank (5609) announced September revenue of 3.655 billion yuan, an annual increase of 47%, a new monthly high since July 2022, and cumulative revenue from January to September was 26.922 billion yuan, an increase of 23.9% over the same period last year.

Looking forward to the market outlook, Sino-Philippines pointed out that as the traditional peak season in the fourth quarter begins, demand for technology products, AI infrastructure, e-commerce and retail stocking is heating up. In addition, delays in shipping have caused some urgent cargo to be diverted to air transport. It is expected that air transport capacity across the Pacific and Asia will remain tight.

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China Philippines Bank pointed out that revenue hit a high in September, mainly due to the continued strong demand for semiconductors, AI servers and high-tech logistics, which drove the simultaneous growth of air freight, sea freight and contract logistics revenue. As the traditional logistics peak season begins in the fourth quarter and retail and e-commerce stocking needs are gradually released at the end of the year, freight demand on major global routes remains supportive. The global manufacturing boom continued to expand in September, with the global manufacturing PMI rising to its highest level since February 2022, and the growth of new export orders also accelerating significantly, indicating that global manufacturing and trade activities remain resilient.

China Philippine Bank said that the freight market in September benefited from the demand for shipments of AI servers, semiconductors and high-tech products, which continued to drive the air freight market from Asia to the United States. Space on routes from Taiwan and major Asian technology export markets to the United States remained tight, and freight rates also showed an upward trend. Entering the fourth quarter, demand for technology, AI infrastructure, semiconductors, e-commerce and seasonal retail goods has increased. Coupled with delays in shipping, some urgent cargo has been diverted to air transport. It is expected that the capacity of some routes across the Pacific and Asia will remain tight. China Philippines Bank recommends that customers plan shipments and book shipping space in advance to reduce the impact of capacity fluctuations on the supply chain during peak seasons.

In terms of shipping, the demand in the trans-Pacific market remains high. The backlog of cargo previously affected by typhoons, port congestion and shipping delays continues to be digested. In addition, shipping companies adjust supply through empty shipping and capacity management before and after China’s Golden Week, so that the space and freight rates on the trans-Pacific route remain relatively high. In contrast, as some shipping companies gradually resumed sailing through the Suez Canal, the spot freight rates on the Asia-Europe route weakened, and the market trends of the major routes showed divergence.

In addition, there are still uncertainties in global trade policies and transportation environment. The Sino-US trade truce has been extended to January 10, 2027, which will help reduce some policy uncertainties in the short term, but subsequent tariffs and trade measures still require continued attention. The Section 301 investigation launched by the United States against structural overcapacity covers Taiwan, China, South Korea, Japan, and multiple Southeast Asian economies. Industries including semiconductors, electronic products, batteries, and steel may be affected by subsequent policies, and relevant developments remain to be seen. On the other hand, the Panama Canal has recently adjusted its daily navigation quota due to insufficient rainfall. If the relevant restrictions continue, it may also affect the shipping space and shipping schedule arrangements on the route from Asia to the East Coast of the United States. The global supply chain must continue to pay attention to changes in policies and transportation risks.

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