Independent journal on economy and transport policy
13:04 GMT+1
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Quarterly financial results of container charterer Triton fall
The company expects the recent strong recovery in demand to continue
October 26, 2020
In the first nine months of 2020, revenues amounted to 970.6 million dollars, down -4.5% on the corresponding period of last year. Operating expenses totalled 546.8 million dollars (+6.0%). The operating profit was $451.0 million (-15.6%) and net profit of 204.1 million (-24.3%).
"In the third quarter, with the easing of lockdowns in Europe and the United States - commented the CEO of Triton, Brian Sondey -- the volumes of containerized traffic have increased suddenly and currently the volumes of containers exported from major ports in China exceed the pre-pandemic. The pace and extent of the resumption of traffic has generally exceeded the expectations of our customers and, in practice, all major shipping companies had to adds a significant share of capacity containerised'. Sondey specified that this has determined for Triton a record number of container bookings during the third quarter, leading to the commitment of over 500,000 new fleet containers in long-term rental contracts Term.
"The strong demand, " continued Sondey, "brought also to an increase in the prices of containers. Since last 16 October - he pointed out - container factories are advertising a containers for 20' dry loads about 2,500 dollars. We also - he added - we are benefiting from the growth in sale for the disposal of used containers and higher revenues resulting from divestitures.'
Sondey said that "the demand for containers continues exceptionally high at the beginning of the fourth quarter. The our customers - he explained - expect the volumes of traffic will continue to be high despite the conclusion of the traditional summer peak season for cargo containers Dried. Customers - pointed out Sondey - expect that will face a significant shortage of containers at least until early next year and continue to do a lot reliance on rentals.'
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In the first nine months of 2020, revenues amounted to 970.6 million dollars, down -4.5% on the corresponding period of last year. Operating expenses totalled 546.8 million dollars (+6.0%). The operating profit was $451.0 million (-15.6%) and net profit of 204.1 million (-24.3%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
