News / Less demand for traditional containers this year, says CSD as profits tumble

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After peak sales in the past two years, container demand is under pressure this year, according to Cosco Shipping Development (CSD).

Reviewing the H1 23 performance on Friday, the parent of Dong Fang Container, the world’s second-largest manufacturer, said it expected the market to stabilise next year, when more old boxes will be scrapped.

CSD’s first-half net profit was down 59% year on year, to $151.86m, as its container sales fell 68%, to 185,100 teu, with the group’s pre-tax profit from box ...