China International Marine Containers (CIMC), the world’s largest container manufacturer, said its output in the first nine months of the year rose five-fold after the Red Sea crisis sparked resurgent demand, reports The Loadstar.
Revenue rose
From output of 2,490,000 boxes, (including 93,400 reefers, up 17%) revenue rose 36% year on year, to CNY128.97bn ($18.37bn), while net profit nearly doubled, to CNY2.73bn ($388.35m).
Drewry expects 2024 to be the second-highest year on record for dry freight container manufacturing, driven by record production in Q2 24, while in July alone, more than 850,000 teu was delivered from Chinese manufacturers, which have reported being busy until this month.
The provision for getting containers in numbers at locations where they are required has become a challenge, because of the strong exports from Asia, congestion at transhipment ports and declining container turnover, due to the extended sailing times caused by the Red Sea crisis that has seen ships detour round the Cape of Good Hope.
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Source: Loadstar
