CIMC, the world's largest container maker, said its factory orders had been filled until at least the end of March due to a surge in container demand caused by the Red Sea crisis. CIMC disclosed in a filing to the Shenzhen Stock Exchange that it expects its net profit in 2024 to increase six to eight times from 2023 to $340 million to $480 million.

The market estimates that CIMC achieved a net profit of $92 million to $229 million in the fourth quarter of 2024, compared with a loss of $104.5 million in the same period of 2023. CIMC explained that the cyclical rebound in the container shipping market in 2024, coupled with the Red Sea crisis resulting in longer voyages, increased demand for new containers. Production and sales of standard dry cargo containers reached a record high, so the company's revenue and net profit increased significantly.

CIMC's current order book is significantly better than the same period last year, with orders on hand through the first quarter of 2025. Although CIMC will not disclose production figures for 2024 until its full-year results at the end of March, production of dry cargo containers in the first three quarters of 2024 surged fivefold year-on-year to nearly 2.49 million TEU.

Despite the uncertainty in the container shipping market in 2025, CIMC management remains optimistic. Management said: "With the growth of international trade, global container holdings are also expected to increase. The diversification of the supply chain and the increase in TEU miles will generate demand. At the same time, the imbalance in container trade flows and the replacement of old containers will support demand."