CIMC (China International Marine Containers) posted a six fold year-on-year net profit increase to CNY945 million (US$129 million) in 2024, drawn on revenues of CNY177.6 billion, up 39 per cent.

The container manufacturing business achieved a record-high performance in 2024, said CIMC group. Dry cargo container sales experienced a year-on-year growth of 417 per cent.

The container manufacturing segment recorded a net profit of CNY4.08 billion, up 39 per cent year-on-year.

"In 2024, despite the global operating environment remaining complex and competitive, the group continued to act pragmatically to deepen its core businesses, optimise order quality, and advance its various business segments," said the company.

According London research house Clarksons, global container trade volume increased by 5.9 per cent year-on-year to 213 million TEU in 2024.

At the same time, the detour of European routes brought about by the Red Sea Incident and the port congestion caused by the strike of terminal workers resulted in lowered efficiency of container transportation, and increased container demand, said the CIMC release.

The accumulated sales volume of dry containers reached 3,433,600 TEU, a 417 per cent increase year on year. The accumulated sales volume of reefer containers reached 138,600 TEU, against 2023's 92,500 TEU, up 50 per cent.