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CIMC’s container business reports higher sales in first half

CIMC’s container business reports higher sales in first half
The container manufacturing business of China International Marine Containers (Group) Co (CIMC) reported higher sales in the first half of this year, brought about by a recovery in the container shipping market.

Total sales of the group’s ordinary dry containers in the first half were 736,100 teu, representing a 17.7% increase compared to 625,300 teu in the same period of last year. The total sales of reefer containers were 86,900 teu, an increase of 22.9% year-on-year.

CIMC’s container segment recorded revenue of RMB12.48m ($1.95m), up 8.5% from RMB11.51m in the year-ago period, while net profit jumped by 120.1% to RMB710m.

“In the first half of 2015, under the influence of optimistic expectations for steady growth in the global container trade and launching of new ships at the beginning of this year, the market demand for containers maintained the favourable trend of previous year,” CIMC said.

Meanwhile, the group implemented the entire upgrade of the container business by adjusting and optimising the composition of the existing production capacity.

Its container project in Dongguan Fenggang was progressing on schedule to start operation in the first half of next year. It also won the bidding for the largest modularised office building project in China-Shenzhen Qianhai Business Innovation Centre.