May.2--SAN FRANCISCO intermodal container lessor CAI International has posted a year-on-year first quarter three per cent net profit increase to US$17 million, drawn on revenues of $51 million.

Its average container fleet utilisation remained at 92.2 per cent over the past 12 months, which includes off-hire equipment, Storage and handling costs increased to $4.3 million, compared to $2 million during the first quarter of 2012.

CAI closed deals on two managed container portfolios and a sale-leaseback transaction representing 66,000 TEU involving an investment of $82 million to contribute to overall 2013 profits.

The company expects a high utilisation of smaller fleet as well as new container demand for the rest of the year, based on Clarkson Research Services container intelligence monthly forecast that predicts traffic volume growth of 6.1 per cent for 2013 - almost double the increase of 2012.

(Source:shippingazette)