Sign up to the Port Tech Daily News for free to keep up to date with the latest industry news

World-Largest Container Maker Expands

Twitter
Facebook
LinkedIn
Email

In a bid to fund the expansion of a business park in Shenzhen, China, the world’s largest manufacturer of shipping containers China International Marine Containers Group is planning to sell more than US$920 million worth of shares, according to Bloomberg.

It was reported that the company is looking to sell shares to a maximum of 10 investors.

This decision follows current turbulence in the market place, particularly in the shipping industry, as shipping companies incur losses as a result of slumping freight rates and overcapacity.

Technical Paper: The Freight Rate Mystery Explained

This is in line with recent Drewry findings that further losses are expected to take place in H1, 2016, brought about by overcapacity and lower rates, and is anticipated to cause a ‘trigger point’ in the industry.

Watch: A Future  No More Empty Containers

It could be that the only practical way for carriers to recover from this low point is to allow supply-demand to rebalance naturally.

Want to stay up to date with the latest industry news? Sign up to the Port Tech Daily News and receive stories like this directly to your inbox for free.

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.