Hong Kong-listed Singamas Container Holdings saw profit surge about 900% to a record US$101.9-million for the first half of the year as revenues rose 109.7% to US$1-billion, reports Shipping Gazette.
Vice-chairman Teo Siong Seng said the increase was helped by a 113.6% increase in revenue from the container making division, which contributed 98.3% of turnover.
The company sold 394 310-TEUs in the first half, up from 236 190-TEUs in the same period last year, as shipping lines and container leasing companies expanded their holdings.
The average price of a Singamas-made TEU rose to US$2 760 between January and June this year from US$2 155 over the same period last year.
The world's second-largest container maker accounts for 34% of the global container market.
