Monday, June 23, 2025
Home News CIMC’s first half container sales up 220%

CIMC’s first half container sales up 220%

China International Marine Containers (CIMC), the world’s largest container manufacturer, achieved a net profit of US$654.49 million in the first six months of 2021, as the shortage of containers powered sales.

Sales of dry containers totalled 1.15 million TEU, up 220% year-on-year, while that of reefers came up to 94,500 TEU, up 76% year-on-year. Revenue went up by 86% to US$11.14 billion, enabling CIMC to reverse the US$25.85 million net loss in 1H 2020.

CIMC chairman, Mai Boliang said at a press conference on 30 August that the ongoing Covid-19 pandemic has caused congestion in major container terminals, slowing the return of empty containers.

“This situation may be difficult to change this year, and it may not change in the first half of next year. At the same time, China’s imports and exports have grown rapidly, and the demand for container transportation has increased, exacerbating the container shortage,” he noted.

Mai stressed that what goes up will come down, and container prices will normalise eventually, although it is not known how long the upturn will last.

Even when the situation balances out, CIMC boss said that container prices will not plunge overnight.

He explained, “Demand will be smoothed in the next two to three years, but there is no need to worry about serious container overcapacity. Global trade is still growing, and container ships are getting larger and larger, increasing container demand. On the other hand, the number of containers scrapped each year will increase. The current tight market has seen shippers and liner operators delaying container scrapping by as much as two years. So when the market normalises, many containers will be scrapped, necessitating orders for new containers.”

Martina Li
Asia Correspondent.





Latest Posts

We Asked AI: Container Ships in Ancient Worlds

Container Ships in Ancient Worlds Imagine a colossal container ship gliding through the Nile as pyramids rise in the distance, or docking at a bustling...

Scenario planning for Mediterranean ports growth amid ongoing tensions

The sustained growth of Mediterranean port traffic, driven by increased Asia-Europe trade and the Red Sea crisis, presents a dynamic landscape for global shipping. Assuming...

Thessaloniki port Revival: Balkan gateway reawakens

 For decades, Thessaloniki was a port with strategic promise but structural limitations, ideally located at the crossroads of Europe and the Balkans, yet constrained...

Vigor Marine Group’s consolidation signals US push to counter China’s shipbuilding dominance

In a bold move to strengthen America’s maritime capabilities, five leading US ship repair and marine service providers have united under a single banner. This...

AI reshape shipping operations

The integration of artificial intelligence into shipping operations, is poised to transform competition in the maritime industry by enhancing efficiency, safety, and sustainability while...
error: Content is protected !!