News / Box-maker reports falling earnings and sales as sector heads for 'shippers' market'

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China International Marine Containers (CIMC) has reported net profits and sales plummeted over the first nine months of the year.

The world’s largest container manufacturer said net profit fell 65%, year on year, to $437.31m, while sales of dry containers dropped 47%, to 1.01m teu, and reefer sales were down 22%, to just over 100,000 teu.

CIMC blamed a slowdown in the global economy, as well as falling consumer demand in the west for China’s exports causing the decline in container shipping ...