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

People & Company News

Maersk Line Names Hahnemann Chief HR Officer

On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be

American Waterways Operators Elects Chairman

The members of the American Waterways Operators, the national trade association representing the tugboat, towboat and barge industry, elected a new slate of leaders

Hanjin Shipping May Get OK for Restructuring

South Korea’s largest container operator by capacity Hanjin Shipping's creditors are expected to approve a corporate rehabilitation program for the struggling container line,

Finance

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

Baltic Index Down for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the third straight session, as demand for bigger vessels weakened.

Kongsberg, DNV GL Partner to Reduce Training Costs

Kongsberg Maritime has entered a partnership with class society DNV GL to issue Product Certificates for Maritime Simulator Systems required by maritime training

Container Ships

UN to Start Inspecting Commercial Shipments to Yemen

The United Nations will start inspecting shipments to rebel-held ports in Yemen in a bid to boost commercial imports and enforce an arms embargo, the world body said on Tuesday,

Maersk Line Names Hahnemann Chief HR Officer

On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be

Allcargo Groups Subsidiaries as ECU Worldwide

ECU Line, Econocaribe and China Consolidators undergoes rebranding to build a Global Brand Connect   India’s integrated logistics solution provider Allcargo Logistics

Marine Equipment

CRMG Cranes Arrive in Mersey for Liverpool2

First six of 22 to be installed at £300m terminal; arrival marks end of 13,730 mile (11,930nm) journey from Nantong, China   The first six cantilever rail-mounted

Vesper Marine Updates WatchMate Vision

Vesper Marine, a manufacturer of marine safety products, announced a free upgrade for its flagship AIS Class B transponder, the WatchMate Vision, streamlining usability,

Crane Upgrade for Jack-up Vessel Sea Installer

Major modification work will bring A2SEA-owned vessel into line with growing demands of offshore wind industry   Damen Shiprepair Amsterdam (DSAm), part of Damen Shiprepair & Conversion,

Logistics

CRMG Cranes Arrive in Mersey for Liverpool2

First six of 22 to be installed at £300m terminal; arrival marks end of 13,730 mile (11,930nm) journey from Nantong, China   The first six cantilever rail-mounted

UN to Start Inspecting Commercial Shipments to Yemen

The United Nations will start inspecting shipments to rebel-held ports in Yemen in a bid to boost commercial imports and enforce an arms embargo, the world body said on Tuesday,

Maersk Line Names Hahnemann Chief HR Officer

On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair 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: 0.0983 sec (10 req/sec)