CONTAINER lessor TAL International posted a 29.4 per cent
year-on-year second quarter profit increase to US$37.9 million drawn on
revenues of $172 million, up 15 per cent.
Profits were the result of "very high
utilisation" at an average of 97.5 per cent during the second quarter, and
to retain 97.4 per cent in July.
Due to the relatively well-balanced supply and demand of
containers, further buys are "tightly connected to the growth in global
containerised trade" with some shipping lines rushing to buy boxes at
reduced prices, said the company.
But CEO Brian Sondey forecast that the share of new
container procurement will fall to 50 per cent in 2013 from a estimated 65 per
cent in 2012.
Container sale prices will continue to moderate and cause
its disposal gains to trend down to historically normal levels, said a company
statement.
"New investment opportunities have been more limited
in this environment, and market leasing rates have become more
aggressive," he said of an expected delivery of more than $470 million in
new and sale-leaseback containers this year.
The Purchase, New York, global container leasing company
has been able to take advantage of a very low interest rate environment to
refinance several debt facilities, said its president.
Source : HKSG.
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