The Chinese shipowning group COSCO Shipping Holdings Co. provides to close the first half of 2023 with an EBIT of 24.7 billion yuan (3,4 billion dollars), with a decrease of -74.1% compared to the first half of last year. Net profit expected is of 19,7 billion yuan (- 74.4%) and the profit for the shareholders of €16.5 billion (-74.5%).

The preliminary half-year results announced today by the group reveal that in the second quarter of this year alone Operating and net income showed decreases similar to those recorded in the previous quarter: for the period April-June in 2023, in fact, the expected EBIT is about 14.0 billion yuan, with a decrease of -74.5% on the second trimester of 2022, and The expected net profit is about 11.1 billion (- 74.9%).

Chinese intermodal container manufacturer Singamas also Container Holdings Ltd. today announced a sharp contraction of the value of profit for shareholders for the first half of 2023 which, according to the preliminary balance, will amount to no longer ten million dollars compared to 38.0 million dollars in first six months of last year. The Hong Kong-based company has specified that in the last six months the activity has undergone the significant impact of the slowdown in the world economy, easing congestion in supply chains and Effects of overproduction of containers by companies of the sector in 2021 which led to an increase in the supply of container. Added to this are the effects of tensions geopolitics, the continuation of the war between Russia and Ukraine, rising inflation and weakening demand for containers for transporting dry loads. Singamas made I note that, due to the reduced demand for new containers, in the First half of this year the company closed for several periods some own factories for the production of dry boxes. In addition to the decline of production, financial results for the first half of 2023 are also affected by the reduction in the average selling price of container.