Singamas to delist from Singapore

Singamas Container Holdings Ltd has disclosed that it expects PIL to increase the value of its container purchasing in the next three years.

Pacific International Lines (Private) Limited (PIL) has put up its 41.2% stake in Singamas Container Holdings Limited as security on a banking facility.

Singamas Container Holdings Limited, the world’s second largest container manufacturer, produced more containers last year, but still recorded a slight drop in profit.

Reefer demand held up well in 2014, with the leasing sector accounting for the majority of investment, but its intake was down on the 2013 peak, whilst rental per diems and cash returns remain depressed.

The world’s two biggest container manufacturers, China International Mar ine Containers (CIMC) and Singamas Container Holdings, are under investigation by US authorities over the alleged dumping of 53ft US domestic containers.

Singamas Container Holdings, the world’s second largest container manufacturer, has reported a 16.5% fall in consolidated revenue in 2013 to US$1.28B from US$1.53B in 2012.