CIMC quarterly revenue up 130pc as box sales soar131pc in 2017
- Author:Alex
- Source:Sunny worldwide logistics
- Release Date:2017-11-01
CIMC quarterly revenue up 130pc as box sales soar131pc in 2017
SHENZHEN's China International Marine Containers (CIMC) posted a 130 per cent year-on-year revenue increase to CNY18 billion (US$2.7 billion) and a 131 per cent increase in container sales to 969,300 TEU in the first nine months of the year.
Reefer containers also saw production rise 48.8 per cent to 67,300 TEU in the same period, said CIMC in a stock market filing.
The company also said the recovery in trade and volumes has led to increased demand for containers, with customers "generally increasing purchasing volumes for new containers to cope with short supply".
CIMC added that the successful completion of the upgrade of its facilities in the second quarter to water-based production lines to comply with new environmental regulations also allowed production to escalate and recover, gradually alleviating the shortage in market supply.
Reefer containers also saw production rise 48.8 per cent to 67,300 TEU in the same period, said CIMC in a stock market filing.
The company also said the recovery in trade and volumes has led to increased demand for containers, with customers "generally increasing purchasing volumes for new containers to cope with short supply".
CIMC added that the successful completion of the upgrade of its facilities in the second quarter to water-based production lines to comply with new environmental regulations also allowed production to escalate and recover, gradually alleviating the shortage in market supply.