Singamas closes first semester 2016 in loss



In the first half of this year the Chinese producer of Singamas container has recorded revenues pairs to 410,3 million dollars, with a decrease of the -41,7% regarding 704,0 million dollars in the first semester of 2015. The single segment of the production of containers, that she is Core business of the group, has totaled revenues pairs to 393,8 million dollars, with a decrease of the -42,8% on the first six months last year, while the field of the correlated logistic services to the activity of container production has recorded revenues pairs to 16,5 million dollars (+4.1%).

Singamas clearly has archived item the first semester of 2016 with a net loss pairs to -38,1 million dollars respect to a profit of 11,6 million dollars in the first half last year. The sign result economic clearly negative follows those pairs to -12,9 million dollars marked in the second half of the year of the 2015 that has reached after 11 closed consecutive semesters with results of positive sign.

In the first six months of this year the factories of the Chinese group have produced to container for a total pairs to 223.982 teu, with a decrease of the -33,5% regarding 336.581 teu produced in the correspondent period of 2015, and the container sold from the company has been pairs to 236.388 teu (- 28.7%). The average price of sale of a container from 20 ' for cargos dries has turned out pairs to 1.414 dollars regarding 1.880 dollars in the first semester last year.

Singamas previews that the market in which work the company will not show improvements in the short term and that in the near future the new question of container will continue to being contained. Singamas has found that if in the three years the 2016-2019 attended medium increase of the fleet of portacontainer is pairs to +4.7%, increment that suggests a consequent increase of the question of new containers, however beginning from the 2015 new deliveries portacontainer is sent back reducing consequently the expectations of increase of the question of new container. Singamas has evidenced that, however, the recent fusions and acquisitions realized from some companies of navigation and society of chartering of container are about to completion and this - according to Singamas - will contribute to reduce the uncertainties in the market and to return available capital for the investments in the new acquisition of container.