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11 November 2019 The on-line newspaper devoted to the world of transports 21:39 GMT+1



October 30, 2019

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Original news
Results down for the charter of container CAI and the producer of container CIMC

The companies have complained the impact negative of the commercial disputes in existence between the USA and China

This summer the economic results of some of the primary world-wide companies of chartering and production of container have shown obvious signs of a phase of contraction of the activity already in existence in the months precedence. Between these, the charter American CAI International and the Chinese producer Lower International Marine Containers (Group) Ltd. (CIMC) that they have diffused quarterly relations on 30 September that they record a marked worsening of the performances.

CAI International has archived item the period July-september of 2019 with revenues in light increase of +0.8% being piled to 107,6 million dollars, of which 77,3 million deriving from the activity of chartering of containers, with an increase of +2.6% on the third trimester last year. More important the increment of the attested costs to 70,7 million dollars (+5.5%). The operating profit has been of 36,8 million dollars (- 7.1%) and the economic result clearly has been of sign negative, for the first time after 11 archived item consecutive trimesters with a profit, and pairs to -4,7 million dollars respect to a profit clearly of 21,7 million dollars in the third trimester of 2018.

Commenting the results of the third trimester of this year the president and managing director of CAI International, Victor Garcia, have confirmed that in the period the question is continued to being weak person, down period who Garci'a has attributed mainly to the commercial dispute in existence between the United States and China, and have specified that CAI considers that also in the fourth trimester the level of the question will be contained. Garci'a has confirmed moreover the intention of the society to sell the activities in the segment of the railway wagons being announced that they are in existence negotiations with potential purchasers who have expressed interest for this pocketbook.

Al 30 last September the fleet of container of the American company had a consistency pairs almost 1,7 million teu (+12.2% on on September 30, 2018), of which 1,6 million teu of property (+13.1%) and 72 thousand teu in management (- 4.5%).

For the Chinese producer of container CIMC in the third trimester of this year the trend has been emphasized negative already in existence in the two quarterly periods precedence. The revenues recorded from the company in the third trimester of this year have been pairs to 18,9 billion yuan (2,7 billion dollars), with a contraction of the -18,9% on the correspondent period of 2018, of which almost 4,4 billion yuan generated from the activity of production of containers (- 48.7%). The operating profit is piled to 209,3 million yuan (- 90.1%) and the profit to clearly 119,4 million yuan (- 92.2%).

In the third trimester of 2019 CIMC it has sold container for a total pairs to 180 thousand teu, with a decrease of the -59,1%, of which 144 thousand teu for cargos 8.6% dry (- 64.1%) and 36 thousand teu reefer (-). Also CIMC have attributed this decrease of the business activity to the commercial disputes in existence with China.





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