10 February 2020 Container Corporations (CCRI) results highlight its market share loss v/s peers. CCRIs market share has reduced from 73% last year to 67% currently. However, margins have improved for the company by 3pp YoY. The commissioning of DFCC should be a key volume/margin growth trigger for the company. Total volumes were down 2% YoY to 910,407 TEUs (v/s est. EXIM volumes came in at 766,822 TEUs (-2% YoY) and domestic volumes at 143,585 TEUs (+2% YoY). CCRIs 3QFY20 reported revenues were at INR15.2b (-3% YoY, -12% QoQ) below est. EXIM revenues stood at INR11.7b (-4% YoY, -14% QoQ) while domestic revenues came in at INR3.