News / Singamas warns investors it's in for a bumpy ride as demand for new containers slumps

Container manufacturer Singamas yesterday issued a profit warning to the Hong Kong Stock Exchange.

The Chinese firm blamed declining global demand for ocean freight transport and consolidation among its principal customers.

The company, the world’s second-largest box maker after CIMC, warned investors it would post a loss of US$25m for the first six months of this year. This compares with a a $10m profit at the same point last year, but that was followed by a $2.7m loss for full-year 2015.

Singamas also said it continued to be affected by the fall-out ...