Lloyd's List is part of Maritime Intelligence

This site is operated by a business or businesses owned by Maritime Insights & Intelligence Limited, registered in England and Wales with company number 13831625 and address c/o Hackwood Secretaries Limited, One Silk Street, London EC2Y 8HQ, United Kingdom. Lloyd’s List Intelligence is a trading name of Maritime Insights & Intelligence Limited. Lloyd’s is the registered trademark of the Society Incorporated by the Lloyd’s Act 1871 by the name of Lloyd’s.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

Printed By

UsernamePublicRestriction

CIMC secures $2.9bn credit line

CHINA International Marine Containers, the world’s largest container maker, has secured a Yuan20bn ($2.9bn) credit line from China Construction Bank. CIMC has been badly hit by the downturn in the container shipping market and suspended production of new boxes after failing to win any container orders since last October. The firm reported a 19.5% slump in net profit to Yuan825m for the first six months this year, down from more than Yuan1bn in the same period last year, while revenue crashed 68.7% to Yuan9.4bn. Up to the end of June the firm had cash at the bank and on hand of Yuan750.3m, although it also had short-term loan liabilities of Yuan236.6m.

Topics

UsernamePublicRestriction

Register

LL061992

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel