Container Manufacturer Reports Profit Plunge

By George Backwell
Friday, August 22, 2014
Container stack: File photo

World-leading container manufacturer and logistics services provider Singamas Container Holdings Limited (Singamas) has  announced its unaudited interim results for the six months ended 30 June 2014.

Net profit were down almost 52 per cent to US$13.28 million for the six months to June from US$27.49 million a year earlier because of unstable demand.

The Group recorded consolidated revenue of US$678,745,000 for the six months ended 30 June 2014, 16.9% higher than the corresponding period of last year (1H2013: US$580,854,000). Consolidated net profit attributable to owners of the Company amounted to US$13,275,000 (1H2013: US$27,492,000), while basic earnings per share were US0.55 cent (1H2013: US1.14 cents).

Mr. Teo Siong Seng, Chairman of Singamas, said: “Demand for new containers remained soft and production volume was low in the first quarter of 2014, which began to pick up entering the second quarter. However, average selling price was picking up in a slower pace; consequently moderated the Group’s performance.”

About Singamass
Singamas is one of the world’s leading container manufacturers and logistics services providers. Its manufacturing business covers twelve container factories located in the PRC. Its logistics operations include eleven container depots/ terminals, eight located in key locations in the PRC – Dalian, Tianjin, Qingdao, Shanghai, Qidong, Ningbo, Fuzhou and Xiamen, two in Hong Kong and one in Laemchabang, Thailand. It also runs a logistics company in Xiamen, the PRC.

www.singamas.com


 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Kemp Joins PMSA as Vice President

The Pacific Merchant Shipping Association (PMSA) announced the hire of Carl Kemp as a Vice President based in the organization’s Long Beach office.    Kemp brings

FSL Trust Divests Two Containerships

FSL Trust Management Pte. Ltd., as the trustee-manager of First Ship Lease Trus, announced that the Trust has completed the disposal of Ever Radiant and Ever Respect

Sill Reinforcements Complete in New Panama Canal Locks

The Panama Canal Authority (ACP) announced that sill reinforcements in the new locks have been completed this week, bringing the Panama Canal Expansion closer to inauguration.

Finance

FSL Trust Divests Two Containerships

FSL Trust Management Pte. Ltd., as the trustee-manager of First Ship Lease Trus, announced that the Trust has completed the disposal of Ever Radiant and Ever Respect

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

Asia-Europe Box Rates Down 8 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday,

Container Ships

FSL Trust Divests Two Containerships

FSL Trust Management Pte. Ltd., as the trustee-manager of First Ship Lease Trus, announced that the Trust has completed the disposal of Ever Radiant and Ever Respect

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

Asia-Europe Box Rates Down 8 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday,

Marine Equipment

VT Halter Delivers ATB Tug to Bouchard

VT Halter Marine, Inc. announced the delivery of the M/V Morton S. Bouchard Jr., the first of the two 6,000 horsepower Twin Screw Articulated Tug Barge (ATB) tugs to Bouchard Transportation Co.

Sill Reinforcements Complete in New Panama Canal Locks

The Panama Canal Authority (ACP) announced that sill reinforcements in the new locks have been completed this week, bringing the Panama Canal Expansion closer to inauguration.

Corima Acquires Damen ASD 2810 Tug

On 20 January 2016, Corima, part of the Italy-based Gesmar Group, held an official handover ceremony for a Damen ASD 2810 tug. The festivities were attended by

Logistics

Kemp Joins PMSA as Vice President

The Pacific Merchant Shipping Association (PMSA) announced the hire of Carl Kemp as a Vice President based in the organization’s Long Beach office.    Kemp brings

Baltic Index Records New Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low for the ninth straight

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1259 sec (8 req/sec)