COSCO
SITC
PACIFIC LINES
Monday, 03/04/2023, 11:25 (GMT +7)
1008
CIMC sees significant decline in container demand in First-Half 2023
China International Marine Containers (CIMC) - the world's largest container manufacturer - predicts that demand for new containers will drop sharply and be only 20% compared with normal years.
Containers manufactured by CIMC (Photo: Ji Haixin/China Daily)
Chairman and CEO of China International Marine Containers (CIMC) - Mai Boliang - predicts that demand for new containers will fall, by only 20% compared to normal years.
The head of the world's largest container maker spoke at a briefing on March 28 to release CIMC's 2022 results, which showed net profit falling 52% year-on-year to $466.55 million due to the normalization of the container shipping market.
Total revenue fell 14% to $20.51 billion, as container sales fell 31% to $6.62 billion.
Dry container sales are down 56% from 2021 to just over 1.1 million TEUs in 2022, while refrigerated container sales are down 11% to 131,400 TEUs. Net profit from the container business fell 55% to $762.03 million.
“In 2022, the global economic and trade growth momentum weakened due to factors such as inflation and significant interest rate hikes in Europe and the US,” Mai said.
“The container business is mainly affected by the variety of dry cargo containers, and the demand in the first half of the year is only 1/5 of that in conventional years,” he said.
Mr. Mai expects container demand to recover in the second half of 2023, as US retailers continue to hoard goods.
Mr. Mai explained: “Global trade remains slow, while China’s economy is still recovering after the (Covid-19) pandemic". “However, container prices have stabilised at just over US$2,200/TEU, and we expect prices to go up as demand recovers.”
Mr. Mai also observed that in recent years, many manufacturers have moved from China to Southeast Asia, but do not foresee a big change to container production in the near term, although the manufacturers' container production machines opened in Vietnam.
"In the past, the container industry was transferred from Japan and South Korea to China, and there may be a trend of moving to Southeast Asia in the future, but this is not easy," said Mr. Mai.
"In the short term, Southeast Asia’s share in the global container market will increase, but China will continue to dominate demand, production technology, equipment, and the supply chain."
See more:
Source: Phaata.com (According to ContainerNews)
Phaata - Vietnam's First Global Logistics Marketplace
► Find Better Freight Rates & Logistics Services
Featured News
- Hapag-Lloyd applies Peak Season Surcharge from East Asia to USA and Canada
- The world\'s largest container ships MSC Irina and MSC Loreto floated
- MSC (Mediterranean Shipping Company) - The world\'s leading container shipping lines
- Information you need to know about Maersk Line
- Top 10 export and import goods between Vietnam - Philippines in the first 5 months of 2020
Market News
See more
.webp)
HOT PROMO
See more
74
FCL
2 Days
Freight cost
Expiry date
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
3.5
58
FCL
6 Days
Freight cost
Expiry date
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
3.5
58
FCL
6 Days
Freight cost
Expiry date
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
3.5
47
FCL
6 Days
Freight cost
Expiry date
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
3.5
43
FCL
6 Days
Freight cost
Expiry date
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
3.5
WHY PHAATA.COM?
USERS/MONTH
LOGISTICS COMPANIES
REQUEST FOR QUOTEŚ
QUOTATIONS
VIETNAM LOGISTICS COMMUNITY
5 Steps to Get the Best Quote
Find price quickly
and
Send quote request
Compare Quotes
and
Selection
Contact for Further Consultation
and
Send request booking
Get feedback
and
Direct Negotiation
Management
and
Evaluate
Freight rates
Sea freight
4
Days Direct
- ₫5,236,400 / 20'GP
- ₫9,163,700 / 40'GP
- ₫20,945,600 / 40'HQ
Valid till: 2026-02-15
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
3.5
7
Days Transit
- ₫7,915,500 / 20'GP
- ₫11,873,250 / 40'GP
- ₫11,873,250 / 40'HQ
Valid till: 2026-02-28
CÔNG TY TNHH SHIP LINK VIỆT NAM
0.4
6
Days Direct
- ₫3,957,750 / 20'GP
Valid till: 2026-02-15
CÔNG TY QUỐC TẾ MEGA
2.7
20
Days Transit
- ₫21,503,775 / 20'GP
- ₫26,648,850 / 40'GP
Valid till: 2026-02-27
Chi nhánh tại Khu vực Bắc Bộ - Công ty TNHH Giao nhận vận chuyển Quốc tế Trường Hải
3
25
Days Direct
- ₫36,557,000 / 20'GP
- ₫46,288,000 / 40'GP
- ₫46,288,000 / 40'HQ
Valid till: 2026-01-31
SOV（越南海光）
0.1
3
Days Direct
- ₫0 /cbm
Valid till: 2026-01-31
WR1 MASTER CONSOL
Verified
2.1
8
Days Direct
- ₫0 /cbm
Valid till: 2026-02-01
CÔNG TY TNHH VẬN TẢI BIỂN MINH NGUYÊN
0.1
19
Days Direct
-
Refund
₫1,978,875 /cbm
Valid till: 2026-01-31
CÔNG TY TNHH VẬN TẢI BIỂN MINH NGUYÊN
2.6
30
Days Direct
- ₫1,055,400 /cbm
Valid till: 2025-12-31
CÔNG TY TNHH THƯƠNG MẠI DỊCH VỤ 3N
0
30
Days Transit
- ₫1,319,250 /cbm
Valid till: 2025-12-31
KHAI MINH GROUPS CO., LTD – Ho Chi Minh Branch
2.6
Air freight
1
Days Direct
- 49,438 ₫/kg
Valid till: 2026-01-31
CÔNG TY TNHH EVERGLORY LOGISTICS VIỆT NAM
2.6
7
Days Transit
- 139,841 ₫/kg
Valid till: 2026-01-31
CÔNG TY CỔ PHẦN DỊCH VỤ VÀ HẠ TẦNG Ô TÔ THÀNH CÔNG
1.9
4
Days Direct
- 212,399 ₫/kg
Valid till: 2026-01-17
AN BÌNH EXPRESS
2.6
4
Days Transit
- 97,625 ₫/kg
Valid till: 2026-01-31
MAXTENA SHIPPING&FORWARDING AGENT CO., LTD
2.7
1
Days Direct
- 65,963 ₫/kg
Valid till: 2026-01-10
TTL Cargo Max
2.6
Rail freight
20
Days Direct
- ₫192,610,500 / 40'HQ
Valid till: 2026-01-31
CÔNG TY CỔ PHẦN VẬN TẢI VÀ THƯƠNG MẠI ĐƯỜNG SẮT
Verified
3.8
3
Days Direct
- ₫11,236,500 / 20'GP
- ₫14,982,000 / 40'GP
- ₫14,982,000 / 40'HQ
Valid till: 2025-09-30
SilverSea Co.,Ltd
2.5
26
Days Transit
- ₫170,836,600 / 40'GP
- ₫170,836,600 / 40'HQ
Valid till: 2024-12-31
WORLDLINK LOGISTICS VIET NAM COMPANY LIMITED
1.8
10
Days Direct
- ₫25,502,000 / 20'GP
- ₫25,502,000 / 40'GP
- ₫25,502,000 / 40'HQ
- ₫25,502,000 / 45'HQ
Valid till: 2024-12-31
VIPUTRANS
1.8
3
Days Direct
- ₫17,620,110 / 40'HQ
Valid till: 2024-10-31
CÔNG TY CP PROSHIP
1.8
Road freight
6
Hour
- ₫3,600,000 / 20'GP
- ₫4,100,000 / 40'GP
- ₫4,100,000 / 40'HQ
Valid till: 2026-01-31
CÔNG TY CỔ PHẦN THƯƠNG MẠI VÀ TIẾP VẬN ĐẠI DƯƠNG
0.6
1
Day
- ₫4,100,000 / 40'GP
Valid till: 2026-02-18
CÔNG TY TNHH THƯƠNG MẠI DỊCH VỤ 3N
0
9
Hour
- ₫15,039,450 / 20'RF
Valid till: 2025-11-30
Headway Joint Stock Compnay
3.5
2
Day
- ₫60,000,000 / 20'GP
- ₫80,000,000 / 40'GP
- ₫80,000,000 / 40'HQ
- ₫80,000,000 / 45'HQ
Valid till: 2026-10-31
CÔNG TY CỔ PHẦN MORNING LOGISTICS
2
1
Day
- ₫4,500,000 / 40'HQ
Valid till: 2025-09-30
CÔNG TY TNHH LOGISTICS FV
2.5
Request For Quotes
Help you send and receive quotes from Forwarders on the market quickly and efficiently.
See more
