Evergreen Marine Corp made a second quarterly profit as the global economic recovery revived volumes and shipping rates.

Third-quarter net income of US$250 million compared with a net loss of NT$2.58 billion a year earlier, according to calculations based on nine-month results announced by the Taipei-based company, reported the Manila Bulletin.

Evergreen Group ordered 10 new ships last month, part of plans to buy 100, as the global recovery bolsters US and European demand for shipments of Asian-made clothes, toys and furniture.
"The recovery in the container shipping market has been stronger than expected," Peter Tzeng, a Taipei-based analyst at Polaris Securities, said before the earnings release.

Evergreen's nine-month net income was $384.12 million compared with a loss of $239.34 million a year earlier.

The group operates 168 ships with a combined capacity of 614,000 standard 20-foot boxes.