Singamas plans to manufacture 500,000 containers this year

SINGAMAS Container Holdings Ltd, a Hong Kong-listed container manufacturing and logistics service provider, aims to produce 240,000 containers in the first half of this year and 500,000 units in 2010.

The company`s container output for the first quarter of this year hit 90,000 units, surpassing the more than 86,000 units produced in 2009.



President and CEO Teo Siong Seng said that its average price for a dry bulk container was US$2,700 in August, an increase of 40 per cent compared to the price of containers at the end of last year.



Singamas Container Holdings` net profit for 2010 is expected to meet its forecasted $21.8 million, after the firm suffered a net loss of $51.9 million in 2009, the company said in a statement.