News / Singamas looks to container leasing as box sales decline

© Mr.siwabud Veerapaisarn

Singamas, the world’s fourth-largest container manufacturer, is to target more revenue from leasing, rather than box sales, as liner operators seek more flexibility with inventory amid a tonnage overhang and economic uncertainties.

Hong Kong-listed Singamas made the announcement yesterday, as it reported net profit in 2023 had tumbled 60% year on year, to $22.49m.

With the average selling price of a 20ft container falling to $2,075 from $2,836 in 2022, and weaker demand driving sales volumes down to to 106,000 teu, from ...