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Box maker Singamas reports 40-fold profit jump for 2021
来源：shippingazette 编辑：编辑部 发布：2022/01/27 09:51:36
SINGAMAS Container Holdings is expected to report a 40-fold jump in profit for 2021 as a disruption to the global supply chain hindered surging demand for its products, reports Hong Kong's South China Morning Post.
The Hong Kong-listed container maker declared its annual profit in 2021 could top US$180 million, compared to $4.58 million a year earlier.
The positive profit alert is a result of booming ocean transportation since mid-2020 as air freight grounded to a halt.
Meanwhile, China¡¯s freight trains to Europe hit an all-time high amid the Covid crisis.
"The past one-and-a-half years were the golden era for shipping and container companies as the coronavirus pandemic enabled them to raise prices," said Shanghai Ocean Shipping Agency agent Lu Ming.
"Indeed, no one [in the shipping industry] could have expected such a big windfall before the disease outbreak."
Singamas said that the profit surge was driven by growth in container demand and average prices.
According to Drewry World Container Index the price of an FEU rose 1.4 per cent to $9,544.66 recently, which represented a 340 per cent increase over the price in August, 2020.
As a result, gridlocks at ports and container yards after the outbreak is contained will drive up freight rates and container prices.
The Hong Kong-listed container maker declared its annual profit in 2021 could top US$180 million, compared to $4.58 million a year earlier.
The positive profit alert is a result of booming ocean transportation since mid-2020 as air freight grounded to a halt.
Meanwhile, China¡¯s freight trains to Europe hit an all-time high amid the Covid crisis.
"The past one-and-a-half years were the golden era for shipping and container companies as the coronavirus pandemic enabled them to raise prices," said Shanghai Ocean Shipping Agency agent Lu Ming.
"Indeed, no one [in the shipping industry] could have expected such a big windfall before the disease outbreak."
Singamas said that the profit surge was driven by growth in container demand and average prices.
According to Drewry World Container Index the price of an FEU rose 1.4 per cent to $9,544.66 recently, which represented a 340 per cent increase over the price in August, 2020.
As a result, gridlocks at ports and container yards after the outbreak is contained will drive up freight rates and container prices.