China's Exports Pinched by Global Shortage of Shipping Containers
China's world-beating economic rebound from the coronavirus pandemic is being blunted by a global shortage of shipping containers, sending cargo costs to record highs and hampering manufacturers in filling fast-recovering global goods orders.Exports from China surged 21% in November from a year ago as the country's mammoth industrial engine cranked out mountains of appliances, toys, clothes, personal protective equipment, and other items currently in high demand around the world.But…
Container Manufacturer Reports Profit Plunge
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.
New Dry-Freight Box Prices on the Rise
Prices for new dry freight containers increased in the opening months of 2014 for the first time in two years, observes Drewry's latest 'Container Leasing and Container Census'. Standard box prices declined gradually throughout 2013, falling by late in the year to their lowest point since 2009, and they have so far barely managed to recover 10% by April 2014. They presently stand at much the same level as one year ago. “It is too early to say whether the equipment pricing trend as truly reversed…
Box Prices Rise for the First Time in 2 Years
Drewry’s latest Container Equipment Insight, exclusive to subscribers of Drewry’s Container Leasing and Container Census reports, saw prices for new dry freight containers increase in the opening months of 2014 for the first time in two years. Standard box prices declined gradually throughout 2013, falling by late in the year to their lowest point since 2009, and they have so far barely managed to recover 10% by April 2014. They presently stand at much the same level as one year ago.
Textainer Container Fleet Reaches 3-Million TEU Mark
Container leasing company, Textainer Group Holdings Limited, say that their their fleet surpassed 3 million TEU representing a major milestone for the company as well as the industry. “We are very proud to be the first leasing company to reach 3 million TEU,” commented Philip K. Brewer, President and Chief Executive Officer of Textainer. “Reaching a fleet size of 3 million TEU confirms the confidence that our customers have placed in us since our founding almost 35 years ago.
