October 08, 2008

Biggest container maker fears declining demand in 2008

It is reported that China International Marine Containers, the world’s largest container maker fears that the global demand will plateau or decline in 2008.

China International Marine Containers spokesman said "The uncertainties of the global economic growth, caused by the US subprime mortgage crises are the main factors, adding its major operations are linked to China’s export manufacturing.”

The company statement admitted that the overproduction of containers in 2007 is another reason for the company to make provisions for 2008, in the light of fewer purchases and more competition. But it says trade in standard dry cargo containers and reefer boxes trade will not suffer much because it expects improvement in the domestic market for road operations, energy and chemicals equipment sales, as well as airport facility activity to buoy business during global slowdown.