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25 February 2021 The on-line newspaper devoted to the world of transports 20:47 GMT+1

February 16, 2021

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Original news
The strong demand for containers leads to an increase in improving Triton's performance

The positive trend continues in 2021

After five consecutive quarters of decline, in the last quarter 2020 revenues from intermodal container charterer Triton Container International increased by +1.8% to equal to $337.3 million compared to $331.2 million in the fourth quarter quarter of the previous year. On the other hand, after four consecutive quarters of decrease, operating costs that are amounted to $172.3 million (-2.0%). After a series of negative performance, operating profit and net profit recorded a marked improvement to 190.4% respectively million dollars (+17.0%) and $125.7 million (+50.1%).

"Triton's performance in the fourth quarter was explained the company's CEO, Brian Sondey - have continued to benefit from the strong demand for rentals and are been further supported by extraordinary sales prices of the used containers. If in the first half of 2020 traffic is been weak due to the persistent impact of the dispute between the United States and China and the beginning of the pandemic of Covid-19 - added Sondey - containerized traffic volumes rebounded sharply in the third quarter and in the second half of the year were well above the pre-pandemic levels. The surge in traffic volumes in the second semester -- observed Sondey -- was towed from the easing at the end of the second quarter of lockdowns in the the US and Europe and the shift in consumer spending from activities and services to goods. Generally our customers did not expect this rapid resumption of traffic and all the major shipping companies have had the need to equip itself with a significant additional number of container. To meet their container needs, companies have relied mainly on the market for rentals and Triton secured a significant share of rental transactions thanks to our market leadership regarding container supply capacity and our reputation for reliability.'

Sondey announced that since the beginning of the third quarter of the last year Triton delivered to customers or made arrangements with for the supply of a total of more than 1.3 containers million teu and that at 31 December last the use of the fleet of the company, which had a consistency of more than 6.2 million teu, had reached 98.9%.

In the whole of 2020, Triton's revenues totalled 1.21 billion dollars, down -1.9% year-on-year operating expenses increased by +4.0% in 2019. $719.1 million. Operating profit was 641.4 million dollars (-8.0%) and net profit of 329.8 million (-6.7%).

Sondey also announced that for the company 2021 is started positively, as the demand for containers continues to be very high and Triton has in place agreements for the delivery of in the first half of this year of new containers for about 600,000 teu. In addition, he added, "the current quotations of the new container orders are of the order of $3, 500 per a 20' container for dry loads, rental rates on the market are well above the average of our portfolio and the the selling prices of used containers continue to rise.'

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