China's CIMC is experiencing a sharp contraction in container sales
In the second quarter of 2022 the reduction was -51.9%
August 29, 2022
Cimc's container sales in the first six months of 2022 were equal to over 743 thousand teu (- 40.0%), of which 675 thousand teu relating to the sale of containers for dry loads (-41.1%) and 68 thousand teu to the sale of refrigerated containers (-27.6%). In the only second quarter of this year overall sales were equal to 357 thousand teu, with a contraction of -51.9% on the same period of 2021, of which 321 thousand dry containers (-53.8%) and 36 thousand reefer (-25.7%).
CIMC has motivated the decline in sales of its containers with the deterioration of the world economy caused by the rise in inflation and other factors that have reported gradually the demand for sea containers at normal levels compared to the record ones of 2021. In addition, the activity in China has suffered the effect of the new restrictions introduced to contain the spread of the Omicron variant of Covid-19.
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