China International Marine Containers (CIMC)

CIMC container orders fully booked through March

China International Marine Containers (CIMC), the world’s largest container manufacturer, said that its factories are full with orders until at least the end of March, as the Red Sea crisis saw rocketing demand for containers.

The Chinese state-owned company made this disclosure in a filing to the Shenzhen Stock Exchange, revealing that its 2024 net profit is set to rise by six- to eight-fold from 2023, to between US$340 million and US$480 million.

Market estimates indicate that for the final...

https://container-news.com/cimc-container-orders-fully-booked-through-march/

What Lies Behind COSCO’s Inclusion on the US Department of Defense List?

COSCO is included among several Chinese companies involved in the shipping sector that have been added to a list by the United States Department of Defense, identified for their connections to the People’s Liberation Army.

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https://container-news.com/what-lies-behind-coscos-inclusion-on-the-us-department-of-defense-list/

CIMC sees lukewarm container demand in H1 2023

China International Marine Containers (CIMC) chairman and CEO Mai Boliang expects demand for new containers to be muted, at just 20% of that in conventional years.

The head of the world’s largest container manufacturer was speaking at a briefing on 28 March to announce CIMC’s 2022 results, which showed net profit fell by 52% year-on-year to US$466.55 million, as the container shipping market normalised.

Overall revenue fell by 14% to US$20.51 billion, as turnover from container manufacturing fell...

https://container-news.com/cimc-sees-lukewarm-container-demand-in-h1-2023/

CIMC profit rockets 1,161% as container sales quadruple

Net profit of China International Marine Containers (CIMC) for the first nine months of the year swelled 1,161% year-on-year to US$1.36 billion, as the world’s largest container maker recorded its best result since it began container production in 1982.

Revenue from the China Merchants unit recorded a significant year-on-year increase. In particular, the accumulated sales volume of dry containers was 1,908,500TEU up from 594,900TEU in the year-ago period, representing a year-on-year increase of...

https://container-news.com/cimc-profit-rockets-1161-as-container-sales-quadruple/

CIMC’s first half container sales up 220%

China International Marine Containers (CIMC), the world’s largest container manufacturer, achieved a net profit of US$654.49 million in the first six months of 2021, as the shortage of containers powered sales.

Sales of dry containers totalled 1.15 million TEU, up 220% year-on-year, while that of reefers came up to 94,500 TEU, up 76% year-on-year. Revenue went up by 86% to US$11.14 billion, enabling CIMC to reverse the US$25.85 million net loss in 1H 2020.

CIMC chairman, Mai Boliang said at a...

https://container-news.com/cimcs-first-half-container-sales-up-220/

CIMC boss sees no end to container crunch in 2021

The Chief Executive Officer (CEO) of the world’s largest container manufacturer, China International Marine Containers (CIMC), predicts that the well-publicised equipment crunch will persist into 2021.

Speaking at the company’s annual general meeting on 2 June, chairman and CEO, Mai Boliang said that after monitoring the market, the slow return of empty containers will still plague the industry.

Mai Boliang, chairman & CEO of China International Marine Containers (CIMC).

Mai noted, “The problem is...

https://container-news.com/cimc-boss-sees-no-end-to-container-crunch-in-2021/

COSCO’s Q1 profit 26 times higher than 2020

COSCO Ship Holdings (CSH), the container arm of the China COSCO group, said on 29 April that Q1 2021 net profit rose 26-fold, rising to CNY17.8 billion (US$2.71 billion), as the remarkable recovery in container shipping continued.

Revenue was up 80% to CNY64.84 billion (US$9.87 billion), with income from container shipping up 82% to CNY63.52 billion (US$9.67 billion). The Asia-Europe, Intra-Asia and Transpacific routes were the three highest contributors to the group’s revenue from container...

https://container-news.com/coscos-q1-profit-26-times-higher-than-2020/