CIMC’s revenues and profits soar in 2021

China International Marine Containers Group (CIMC), the world’s largest container manufacturer, has achieved significant 73.85% and 39.07% increases in 2021 revenues and profits respectively. CIMC has reported more than US$25.7 billion in revenues and more than US$1.3 billion in net profit.

At the same time, the Chinese company’s operating profit reached US$2.1 billion, achieving an astonishing 81.08% growth.

Additionally, CIMC has announced that its dry container sales surpassed 2.5 million TEUs in 2021, representing a growth of 150% compared to the 2020 figures, while the company’s reefer sales volume was 148,300 TEU, marking a 15% year-on-year increase.

“In 2021, while fully grasping the historical market condition, the Group’s container manufacturing business adhered to its established strategies, proactively adjusted its business strategies, innovated its business models and explored its business potential,” commented CIMC.

The Chinese box manufacturer said that during the last year it focussed “on the three major areas of traditional container business, incremental special container business and innovative business” and added it took “a number of measures both internally and externally and implemented management requirements strictly in all respects to ensure the quality growth of organic business and scale expansion of new business.”

CIMC expects that container market demand will decrease in 2022, having “a correction compared to the historical high in 2021”, remaining, however, at high levels.

“It is expected that the container shipping market will remain in a tight supply situation in 2022, and the container shipping industry is expected to maintain a high level of profitability, which will strongly promote customers’ willingness to purchase containers,” said CIMC.