Independent journal on economy and transport policy
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Hard contraction of the financial results of the Singamas Chinese
In the first semester the container production is dropped of the -32,8% and the sale of containers is come down of -35,2%
August 21, 2019
After the decrease of the -4,9% of the revenues recorded from the Singamas in according to trimester of the 2018 that is determined by a reduction of the -6,8% of the sale of container intermodal produced from the Chinese society, to which a decrease of the -11,8% of the production of new containers has been accompanied also, the trend negative of the revenues and of the operating and commercial activity of the company it is continued and it has been emphasized in the first semester of 2019. In the first six months of this year, in fact, the volume of transactions has been of 584,0 million dollars, with a bending of the -39,7% on the first half of 2018, of which 570,5 million generated from the productive activity of society (- 40.3%) and 13,5 million from the operated logistic services from Singamas (- 0.1%). Result before taxes and economic result clearly has been both of sign negative and pairs to -42,8 million and -50,6 million dollars regarding sign results they also negative for -767 thousand and -2,5 million dollars in the first semester last year.
In the first half of the 2019 produced number of container of the factories of the company it has been pairs to 308 thousand teu, with a contraction of -32,8%. In the period the number of containers sold from the Singamas has been pairs to 296 thousand teu (- 35.2%). The average price of sale for a container from 20 ' for cargos dries has turned out pairs to 1.791 dollars, with a decrease of the -18,7% regarding 2.203 dollars/teu in the first semester of 2018.
We remember that last May Singamas has signed an agreement with shipowning group Chinese COSCO Shipping in order to yield to it, for about 565 million dollars, three active societies integrally controlled in the segment of the container production, sale that has been capacity to term 2nd August ( on 6 May 2019). Currently the activity of the Singamas is centralized on five factories for the container production and on ten warehouses for storage of the container, all structures that are situated in China.
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After the decrease of the -4,9% of the revenues recorded from the Singamas in according to trimester of the 2018 that is determined by a reduction of the -6,8% of the sale of container intermodal produced from the Chinese society, to which a decrease of the -11,8% of the production of new containers has been accompanied also, the trend negative of the revenues and of the operating and commercial activity of the company it is continued and it has been emphasized in the first semester of 2019. In the first six months of this year, in fact, the volume of transactions has been of 584,0 million dollars, with a bending of the -39,7% on the first half of 2018, of which 570,5 million generated from the productive activity of society (- 40.3%) and 13,5 million from the operated logistic services from Singamas (- 0.1%). Result before taxes and economic result clearly has been both of sign negative and pairs to -42,8 million and -50,6 million dollars regarding sign results they also negative for -767 thousand and -2,5 million dollars in the first semester last year.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
