China International Marine Containers Group News

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…

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…

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.

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.

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.

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.

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).

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

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.

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.