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CIMC, Singamas issue profit warning, blaming weak demand
来源：shippingazette 编辑：编辑部 发布：2023/08/02 09:04:51
THE world's biggest container maker, China International Marine Containers (CIMC), said it expected its first-half net profit to fall by as much as 87 per cent year on year, reports New York's Journal of Commerce.
Joining the dismal chorus is Singamas Container Holdings announcing its net profit will likely drop 74 per cent to US$10 million in H1 from $38 million last year.
CIMC said it expected net profit to fall by 81 per cent to 87 per cent to between $45 million and $68 million for the January-to-June period. That compares with $355 million in the same period last year.
Singamas Container Holdings said its net profit likely dropped by 74 per cent to not more than $10 million in H1, against $38 million in the prior period.
The declines followed a drop in demand for marine containers because of weakened economic and trade growth this year, both companies said in separate filings to the Hong Kong stock exchange.
Drewry estimated that global container manufacturing plummeted to a 13-year low in the 2023 first quarter to 306,000 TEU, down 71 per cent from the same period a year ago. But the maritime consultancy expects a rebound in container orders, sales and manufacturing from 2024 onward, according to its latest container annual review and forecast.
Joining the dismal chorus is Singamas Container Holdings announcing its net profit will likely drop 74 per cent to US$10 million in H1 from $38 million last year.
CIMC said it expected net profit to fall by 81 per cent to 87 per cent to between $45 million and $68 million for the January-to-June period. That compares with $355 million in the same period last year.
Singamas Container Holdings said its net profit likely dropped by 74 per cent to not more than $10 million in H1, against $38 million in the prior period.
The declines followed a drop in demand for marine containers because of weakened economic and trade growth this year, both companies said in separate filings to the Hong Kong stock exchange.
Drewry estimated that global container manufacturing plummeted to a 13-year low in the 2023 first quarter to 306,000 TEU, down 71 per cent from the same period a year ago. But the maritime consultancy expects a rebound in container orders, sales and manufacturing from 2024 onward, according to its latest container annual review and forecast.