TAIWAN's Evergreen Marine posted a net loss for 2013 of TW$1.5 billion (US$49 million), drawn on revenues of TW$139.2 billion, down one per cent.

This wiped out the previous year's profit of TW$312.5 million, a loss attributed to imploding freight rates, according to a company filing to the Taiwan Stock Exchange.

Gross profits from operations decreased to TW$388 million for the year, down from TW$4.2 billion in 2012, while annual operating expenses rose to TW$5.5 billion, up from TW$5.3 billion, reported Lloyd's List.

The results also included TW$4.4 billion of unspecified non-operating gains, although a December sale of TW$75.7 million of containers via a subsidiary to Elevation Development and TG Global accounts for part of this figure.

Highlights of the year included Evergreen joining on the Asia-Europe trade lanes the CKYH Alliance that unites shipping lines Cosco Container Lines, "K" Line, Yang Ming Marine Transport and Hanjin Shipping.

In January, Evergreen secured long-term charter contracts for ten 14,000 TEU containerships from two owners as part of its fleet renewal programme.