News / CIMC warns of major losses this year as bottom falls out of the container market

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The world’s largest manufacturer of shipping containers, China International Marine Containers (CIMC), today issued a profit warning to investors, predicting a significant loss for the first half of the year.

The group, which is listed on the Hong Kong Stock Exchange, issued a statement to investors, warning them to expect a loss of Rmb450m ($67.4m) for the first six months of 2016.

This compares with the Rmb1.52bn profit recorded during the same period of 2015 – a decline of some 70%.

It blames the slowdown in global ...