Singamas Container Holdings, the world's second-largest maker of shipping containers, returned to the black in the first half, posting a net profit of almost US$10.2 million, compared with a $27.4 million net loss the previous year.

      Chief executive Teo Siong Seng said production of new containers virtually ceased until after the Lunar New Year in February, following a slump in demand last year, reported the South China morning Post.

       "Production only returned to normal in April and May," he said.
The company produced 230,666 20-foot containers and sold 236,190 in the first half, generating revenue of $471.4 million, while logistics operations contributed $17 million. This compared with an output of 18,243 containers and a total revenue of $99.5 million in the first half of last year.