HONG KONG May 19 Chinese container makers
Singamas Container Holdings Ltd and China
International Marine Containers (Group) Co Ltd
(CIMC) said U.S. authorities were
investigating them for anti-dumping practices.
The probes are in response to a petition alleging the
companies' 53-foot domestic dry containers are subsidised by the
Chinese government and sold in the United States, both companies
said in separate filings to the Hong Kong bourse on Monday.
The alleged dumping margin is 84.07 percent, they said,
while Singamas added that the U.S. authorities had estimated it
was given a subsidy rate of at least 2 percent.
The containers transport goods other than bulk liquids
within North America.
The U.S. International Trade Commission is scheduled to make
preliminary determinations on June 9, according to the filings.
Singamas said sales of 53-foot domestic dry containers
amounted to $69.7 million, representing 5.4 percent of its total
revenue in 2013, while CIMC said sales revenue from the U.S.
amounted to 640.4 million yuan ($102.74 million) in 2013,
accounting for 1.1 percent of its total revenue.
Both companies said the probe was unlikely to have a major
impact on their performance and financial position. They also
said they were also seeking legal advice.
The investigations will take 12 to 18 months for completion,
In February, China urged the United States to "objectively
and fairly" handle an ongoing trade dispute between the two
countries after Washington signalled that it could extend import
duties on Chinese solar panels to a wider range of products.
($1 = 6.2334 Chinese Yuan)
(Reporting by Donny Kwok; Editing by Miral Fahmy)