Independent journal on economy and transport policy
13:37 GMT+1
This page has been automatically translated by Original news
CAI International reported an improvement in its financial results in the third quarter
The positive trend is expected to continue in the coming months
October 30, 2020
Expressing great satisfaction with the results achieved by the American company in the third quarter of this year, the interim chairman and CEO of CAI, Timothy Page explained that "during the third quarter, so as is happening in the fourth quarter, traffic volumes containerised globally were found to be longer than the same period last year. Last year - page specified - many shipping companies had significantly reduced the acquisition of new containers due to the uncertainties arising from the trade disputes between the US and China and then, again, in the first half of this year due to the uncertainties due to the global pandemic. As a result, when the volume of traffic has started to grow, many shipping companies found themselves in the situation of having to add containerized capacity well above the normal growth and reduction of the Fleet. We expect - page pointed out - that this exceptional container demand will continue throughout next year."
In the first nine months of 2020, the company reported revenues equal to to $229.7 million, down -6.5% on the corresponding period last year, of which 212.4 million were from the container rental (-5.7%). Operating costs amounted to $139.9 million (-9.9%), operating profit of $89.7 million dollars (-0.6%) and net profit at $13.5 million (-26,3%).
As of 30 September, CAI's container fleet had a consistency of 1.68 million teu, with a decrease in the -0.8% compared to 30 September 2019, of which 1.62 million properties (-0.1%) and 60,000 teu under management (-17.1%).
- 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
Expressing great satisfaction with the results achieved by the American company in the third quarter of this year, the interim chairman and CEO of CAI, Timothy Page explained that "during the third quarter, so as is happening in the fourth quarter, traffic volumes containerised globally were found to be longer than the same period last year. Last year - page specified - many shipping companies had significantly reduced the acquisition of new containers due to the uncertainties arising from the trade disputes between the US and China and then, again, in the first half of this year due to the uncertainties due to the global pandemic. As a result, when the volume of traffic has started to grow, many shipping companies found themselves in the situation of having to add containerized capacity well above the normal growth and reduction of the Fleet. We expect - page pointed out - that this exceptional container demand will continue throughout next year."
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
