News / CIMC profits plunge as global container production hits ten-year low

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Worldwide container production hit a 10-year low, of 850,000 teu in H1 23, according to Wu Sanqiang, secretary at China International Marine Containers (CIMC), the world’s largest box manufacturer.

Mr Wu was speaking at a roadshow on Wednesday that coincided with the release of CIMC’s H1 results, which showed net profit plunging 69% year on year, to $136.6m.

CIMC saw its sales of dry containers fall 61% from H1 22, to 263,100 teu, as “demand corrected ...