Container manufacturers’ profits fell substantially in the first half of 2013 as the sector was hit by China’s weaker export performance and stagnant economic conditions in both the US and the eurozone.
Affected by overall weak demand, a decline in the price of reefer containers, fluctuation in the price of standard dry cargo containers and a decline in gross profit margin, China International Marine Containers (CIMC), the world’s biggest container manufacturer, reported revenue of RMB12,315M (US$2,011M) in its container manufacturing segment in the January-June 2013 period, representing a decrease of 9.92% compared to the corresponding period of last year. Net profit was RMB410.226M (US$67M), a year-on-year decrease of 48.73%.
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This complete item is approximately 300 words in length, and appeared in the August 2013 issue of WorldCargo News, on page 17. To access this issue download the PDF here.
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