CIMC eyes more newbuilds and leasing projects

China International Marine Containers (CIMC) has announced its 2012 results with revenue dropping 15.27% to RMB54.33bn and net profit down 47.46% to RMB1.939bn. Entering into more ship deals with big owners is one of its avowed routes back to profitability.
CIMC said the market demand for containers and vehicles has dropped due to the macro-economic downturn, and both sales volume and prices of containers declined sharply compared with 2011.
“We have formed ship leasing and ship design subsidiaries which will be able to provide strategic solutions to our partner shipping companies and get more value-added vessel orders for Chinese shipyards, we will keep our attention on the newbuild project and ship leasing project,” said Mai Boliang, president of CIMC.
CIMC is in negotiations with a number of Chinese shipyards including DSIC to build up to twenty 8,800teu boxships under a charter deal with MSC, however, Mai didn’t reveal any information on this. CIMC has inked a similar deal with CMA-CGM late last year.
Source: Sino Ship News