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China International Marine Containers News

25 Aug 2022

Shipping Container Suppliers Abandon $987 Million Deal After US Probe

(Photo: A.P. Moller - Maersk)

Global shipping container suppliers China International Marine Containers and Maersk Container Industry in a joint statement on Thursday said they have abandoned a merger plan, citing significant regulatory challenges.China International Marine Containers (CIMC) in September had agreed to buy the Danish shipping company AP Moeller - Maersk's refrigerated containers maker for $987.3 million.The U.S.

09 Dec 2021

German Regulators Probe Sale of Maersk Container Maker to China's CIMC

© VanderWolf Images / Adobe Stock

Germany's Federal Cartel Office is taking a closer look into the planned sale of Maersk's refrigerated containers maker to China International Marine Containers, a spokesman for the office said on Thursday.The office has opened an investigation into the effects the takeover of Maersk Container Industry by CIMC could have on the affected markets, it said.The Danish shipping company signed an agreement to divest its container manufacturer to CIMC in September for $987.3 million.However, regulatory authorities still need to approve the plans.

11 Aug 2019

Containers Market to Grow by 6.5%

The shipping containers market estimated to grow with a CAGR of 6.5% during the forecast period from 2018 to 2026, said a report.According to ResearchAndMarkets' latest report, the number of goods carried by shipping containers witnessed an extravagant grow from 102 million metric tons in 1980 to 1.83 billion metric tons in 2017.The quantity is projected to claim more than 60% of the world seaborne trade and almost 90% of the non-bulk cargo transported across the globe, it said.The number is quite promising and anticipated to proliferate significantly in the coming years. Therefore, the aforementioned number strongly advocate the consistent…

29 Jul 2019

Containers Market to Reach $12bln by 2023

The global shipping containers market garnered $9.29 billion in 2017 and is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.Surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market, said a research report by Allied Market Research.However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth. On the other hand, the implementation of development programs and different supportive initiatives present new opportunities for growth, it said.Based on size of container…

15 Jul 2019

Containers Market to Reach $12bln by 2023

The global shipping containers market, which amassed $9.29 billion in 2017, is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.According to a report by Allied Market Research, surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market. However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth.On the other hand, the implementation of development programs and different supportive initiatives present new opportunities for growth, it said.Asia-Pacific is a lucrative region.

02 Jun 2016

CIMC Shelves Sinopacific Acquisition

CIMC Enric, an affiliate company of China International Marine Containers (CIMC), has announced that it has terminated the acquisitions of Sinopacific Offshore & Engineering (SOE), the offshore unit of Sinopacific Shipbuilding. CIMC Enric said the Board decided not to proceed with the proposed acquisition of the entire equity interest of SinoPacific Offshore & Engineering Co., Ltd. as certain conditions precedent have not been fulfilled or waived. Last year, CIMC  has struck a deal with Evergreen Holding and its subsidiaries to acquire Nantong SOE for at least CNY700 million (USD109 million) in cash and shares. In the meantime, the Board is considering various alternatives in protecting the rights and values of the Group's interests in the target company…

28 Apr 2016

Cosco Pacific Q1 Profit Up

Cosco Pacific Ltd.'s  first-quarter  ended 31 March 2016 net profit rose 31.4% from a year earlier on the back of a one-off gain. Turnover sank 2.27% yearly to US$129 million. On yearly basis,  its net profit shot up 105 per cent to US$702.7 million last year and the company is considering making more port acquisitions abroad at a time when the mainland's container throughput growth is slowing. The jump in net profit was mainly due to net disposal gains of US$393.4 million from selling its stake in China International Marine Containers in June last year. The first-quarter net profit rose to US$109.06 million from US$82.98 million a year earlier, lifted by a US$59.02 million gain after it completed the disposal of container box leasing operations in March.

11 Apr 2016

CIMC Plans $928 Million Share Sale

The world’s biggest maker of shipping containers China International Marine Containers Group Co. (CIMC) plans to raise 6 billion yuan ($928 million) selling shares to fund an expansion of a business park in Shenzhen and other assets, reports Bloomberg. CIMC will sell yuan-denominated stock to a maximum of 10 investors, it said in a filing April 9. CIMC’s expansion of diversified businesses comes amid a global slump in container-shipping rates and overcapacity in the sea-freight market. Shipping lines worldwide have been selling assets and exploring consolidations to stem losses as the fees they charge customers plunged after years of slowing trade and overcapacity.

29 Mar 2016

Cosco Pacific Beats Profit Estimate

Cosco Pacific Ltd.'s 2015 net profit rose 30% from a year earlier on the back of a write back of a provision. It recommended a final dividend of 22.9 Hong Kong cents a share. The full-year net profit was US$381.6 million compared with US$292.8 million a year earlier. The improved earnings were lifted by a write back of a provision from the sale of its 21.8% stake in China International Marine Containers (Group) Co. Full-year revenue fell 8.3% to US$798.2 million from US$870.1 million the previous year, as the euro and Chinese yuan depreciated against the U.S. dollar during the year. Gross profit from the container leasing, management and sale businesses recorded a 15.7% decrease compared with last year.

01 Jan 2016

Reefers Segment to Witness Highest Growth by 2021

Shipping containers are defined as containers that facilitate the transport and carriage of goods without the need to unload and/or reload the cargo at intermediate points. These containers are large rectangular boxes made of a special corrosion resistant grade of steel and are characterized by high strength and durability. Containers are generally made up of aluminum and steel. The size and type built of each container comply with specifications and regulations formulated by the International Organization for Standardization (ISO). Shipping containers are classified into three main categories, namely dry containers, reefer containers, and tank containers.

20 Nov 2014

US Sets Import Duties on Containers from China

Photo courtesy of the Port of Los Angeles

The U.S. Commerce Department on Thursday set duties on imports of rail and road transport containers from China after finding the goods were sold below cost in the United States. Under the department's preliminary decision, 53-foot domestic dry containers will face anti-dumping duties of up to 153.24 percent after a complaint from Stoughton Trailers. Some containers, including those produced by China International Marine Containers, face a lower 24.27 percent rate. In 2013, about $184 million worth of such containers were imported from China.

23 Sep 2014

US Sets Import Duties on Chinese Containers

The U.S. Commerce Department on Tuesday set duties on imports of rail and road transport containers from China after finding the goods were produced using unfair government subsidies. Under Commerce's preliminary decision, 53-foot domestic dry containers, including those produced by China International Marine Containers, will face anti-subsidy duties of up to 10.46 percent after a complaint from Stoughton Trailers. In 2013, about $184 million worth of such containers were imported from China. The duties must still be confirmed in a final decision by Commerce and by the U.S. International Trade Commission. (Reporting by Krista Hughes; Editing by Meredith Mazzilli)

03 Sep 2014

China Plans to Modernise Shipping Industry: Shares Jump

China published a set of guidelines to support and develop its shipping industry on Wednesday, sending shares in shipping firms such as China COSCO and China Shipping higher. The world's biggest trading nation is focusing on the shipping industry as it looks to secure its supply chains and grows more assertive over territorial disputes in the South China Sea, unnerving neighbours such as Vietnam and Japan. China will introduce tax and other regulatory reforms while pushing shipping firms to upgrade and modernise their fleets to build an efficient, safe and environmentally friendly shipping system by 2020, the State Council, China's cabinet, said in a statement published on its website.

15 Nov 2013

ABB Wins $23 Million Orders for 14 Containerships

Photo: ABB

Power and automation technology group ABB won two orders in the third quarter to provide the waste heat recovery systems, each powered by a power turbine generator (PTG), for 14 new 8,800 TEU (twenty-foot equivalent unit) container vessels. The first seven post-panamax vessels will be built at Dalian Shipbuilding Industry Co. Ltd., (DSIC) and the other seven vessels at New Times Shipbuilding Co. Ltd., for China International Marine Containers Group Co. and Mediterranean Shipping Co. S.A (MSC).

10 Jul 2013

Latest Worldwide Shipbuilding Orders

Ordering this week has been very much focussed on the dry sector with additional orders seen in the container market, large size LNG sector and small tankers, say Charkson Hellas in their weekly S&P Weekly Bulletin. In dry bulk carriers: starting with the large sizes, it was reported that Oldendorff Carriers have declared their first option for an additional 207k DWT Newcastlemax at HHI with delivery lined up for March 2015. This takes their total order up to five firm Vessels, with one option still outstanding. Notable levels of ordering coming to light this week in the Capesize newbuilding market in Japan, with both JMU and Imabari each taking orders for three firm 180,000 DWT Capes from SwissMarine.

09 Jul 2013

China Shipyard to Build Boxships for Boxmaker

Dalian shipyard to build seven 8,800-TEU container ships for container box manufacturer China International Marine Containers (CIMC). China's largest shipbuilding company, Dalian Shipbuilding Industry Company (DSIC), has received an order for seven 8,800-TEU ships worth US$595 million from container maker China International Marine Containers Group (CIMC).reports Shippingazette.com. The newbuildings are scheduled for delivery in 2015 and 2016. CIMC Financial Leasing (Hong Kong) will first buy the seven vessels and then lease them to a MSC subsidiary. Source: Shippingazetter.com

07 Apr 2000

Business Briefs

Setting sail again, a newly built replica of the Jeanie Johnston, the Irish emigrant ship that rescued thousands from the Great Famine, will voyage from Ireland to North America and visit cities this summer and fall throughout the U.S. The eight-month tour, with stopovers in 23 U.S. and Canadian cities, is expected to arrive mid-June in Washington, D.C. and will be greeted by President Bill Clinton. The ship will then join more than 200 tall ships, 500 U.S. and foreign naval vessels and 50 to 70 thousand spectator crafts from all over the world in New York Harbor's OpSail 2000 Parade of Sail, the largest maritime event in world history.

11 Jan 2000

Hanjin Buys $120M Worth Of Containers

South Korea's Hanjin Shipping Co. Ltd. has reportedly ordered 43,000 containers worth about $120 million from Jindo Corporation and China International Marine Containers (Group) Co. The orders are equivalent to 70,750 teu, officials said. The company plans to replace old containers with the new ones by October.