China's foreign trade is gradually recovering, and overseas orders such as textiles and electronic goods are returning to China. But exporters have encountered another problem: there are no more containers.
The flow of containers has slowed as the recovery in foreign trade has been much better than expected and and the overseas epidemic situation continued. The shipping market appeared "difficult to find one tank".
More than 95% of the world's containers are produced in China, with CIMC, COSCO SHIPPING and CXIC Group leading the way. The market share of CIMC Group, the leading enterprise, is about 45%.
Recovery in shipping and container demand will have a positive impact on CIMC's operations, the company said on its interactive platform in Shenzhen Stock Exchange on Nov. 24.
CIMC said that the container market volume and price have been significantly improved. At present, the company's container orders have been arranged to the first quarter of next year, and its gross profit margin has returned to the normal level in the third quarter of this year. Subsequent price trends are influenced by market demand and raw material price fluctuations.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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