Independent journal on economy and transport policy
13:57 GMT+1
This page has been automatically translated by Original news
Falling economic results of container renter CAI International
The impact of the spread of COVID-19 is still unclear
March 9, 2020
In the fourth quarter of 2019 alone, revenues totaled 103.4 million dollars, down -2.8% on the same period of the previous year, of which 73.5 million dollars products from container rental (-4.1%). Costs have increased 5.5% to 71.9 million dollars. Operating income and net profit decreases of -18.5% and -34.4% respectively fell to 31.5 million and 12.7 million dollars.
Regarding the impact on the container sector coronavirus outbreak, commenting on the results annual president and CEO of CAI International, Victor Garcia, noted that the evolution of contagion "has led to the large-scale closure of business Chinese manufacturing, including container production, and reduction in exports of goods from Chinese ports. Even if the production in China is slowly picking up and exports from the region are on the rise - explained Garcia - CAI predicts that overall maritime transport activities will decrease during the first half of 2020. Although the company expects production to rise and production to recover demand for freight transport, he said, at the time of the at the moment, however, the economic impact remains unspecified.'
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
In the fourth quarter of 2019 alone, revenues totaled 103.4 million dollars, down -2.8% on the same period of the previous year, of which 73.5 million dollars products from container rental (-4.1%). Costs have increased 5.5% to 71.9 million dollars. Operating income and net profit decreases of -18.5% and -34.4% respectively fell to 31.5 million and 12.7 million dollars.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
