##### Table of Contents



SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

|      |  |                                                                                                                                             
|----- |  | --------------------------------------------------------------------------------------------------------------------------------------------
|þ     |  | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2001   
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|OR   
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|(BOX) |  | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________

Commission file number 0-27496

CRONOS GLOBAL INCOME FUND XVI, L.P.(Exact name of registrant as specified in its charter)

|                                                               |  |                                     
|-------------------------------------------------------------- |  | ------------------------------------
|California                                                     |  | 94-3230380                          
|                                                              
|                                                              
|                                                              
|                                                              
|(State or other jurisdiction of
incorporation or organization) |  | (I.R.S. Employer
Identification No.)

|                                                        |  |           
|------------------------------------------------------- |  | ----------
|One Front Street, 15th Floor, San Francisco, California |  | 94111     
|                                                       
|                                                       
|                                                       
|                                                       
|(Address of principal executive offices)                |  | (Zip Code)

(415) 677-8990
(Registrants telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes
ü.
 No .





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TABLE OF CONTENTS



|                                                                                              |                                         |  |  |  |  |  |  | 
|--------------------------------------------------------------------------------------------- | --------------------------------------- |  |  |  |  |  |  | 
|PART I  FINANCIAL INFORMATION                                                               
|Item 1. Financial Statements                                                                 
|                                                                                              | Balance Sheets                         
|                                                                                              | Statements of Operations               
|                                                                                              | Statements of Cash Flows               
|                                                                                              | Notes to Unaudited Financial Statements
|Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
|Item 3. Quantitative and Qualitative Disclosures About Market Risk                           
|PART II  OTHER INFORMATION                                                                  
|Item 6. Exhibits and Reports on Form 8-K                                                     



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##### Table of Contents



CRONOS GLOBAL INCOME FUND XVI, L.P.

Report on Form 10-Q for the Quarterly Period
Ended September 30, 2001

TABLE OF CONTENTS

|                               |  |                                                                                                      |  |     
|------------------------------ |  | ---------------------------------------------------------------------------------------------------- |  | ----
|                               |  |                                                                                                      |  | PAGE
|PART I  FINANCIAL INFORMATION |  |                                                                                                     
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|Item 1.                        |  | Financial Statements                                                                                 |  |     
|                              
|                              
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|                               |  |                                                                                                      |  |     
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|                               |  | Balance Sheets  September 30, 2001 and December 31, 2000 (unaudited)                                |  | 4   
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|                               |  | Statements of Operations for the three and nine months ended September 30, 2001 and 2000 (unaudited) |  | 5   
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|                               |  | Statements of Cash Flows for the nine months ended September 30, 2001 and 2000 (unaudited)           |  | 6   
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|                               |  | Notes to Financial Statements (unaudited)                                                            |  | 7   
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|Item 2.                        |  | Managements Discussion and Analysis of Financial Condition and Results of Operations                |  | 12  
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|Item 3.                        |  | Quantitative and Qualitative Disclosures About Market Risk                                           |  | 14  
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|PART II  OTHER INFORMATION    |  |                                                                                                     
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|Item 6.                        |  | Exhibits and Reports on Form 8-K                                                                     |  | 15  

2



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##### Table of Contents






PART I  FINANCIAL INFORMATION




|        |  |                                                                                                                                                                                                                                                                                   
|------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Item 1. |  | Financial Statements                                                                                                                                                                                                                                                              
|       
|       
|       
|       
|        | 
|        |  | Presented herein are the Registrants balance sheets as of September 30,
2001 and December 31, 2000, statements of operations for the three and
nine months ended September 30, 2001 and 2000, and statements of cash
flows for the nine months ended September 30, 2001 and 2000.

3



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##### Table of Contents






CRONOS GLOBAL INCOME FUND XVI, L.P.

Balance Sheets

(Unaudited)

|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |              |            |            |  | 
|----------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | --------------------------------------- | --------------------------------- | ---------- | ------------- | ---------- | ------------ | ---------- | ---------- |  | 
|                                    |                                                                                                                                       |                                |                                         |                                   |            | September 30, |            | December 31,
|                                    |                                                                                                                                       |                                |                                         |                                   |            | 2001          |            | 2000        
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                |                                         | Assets                            |            |               |            |              |            |            |  | 
|                                   
|                                   
|                                   
|                                   
|Current assets:                     |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|                                    | Cash and cash equivalents, includes $1,112,928 at September 30, 2001
and $1,132,938 at December 31, 2000 in interest-bearing accounts |                                | $                                       | 1,127,928                         |            |               | $          | 1,379,619    |           
|                                   
|                                   
|                                   
|                                   
|                                    | Net lease receivables due from Leasing Company
(notes 1 and 2)                                                                        |                                |                                         | 249,525                           |            |               |            | 262,463      |           
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                | Total current assets                    |                                   |            | 1,377,453     |            |              |            | 1,642,082  | 
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|Container rental equipment, at cost |                                                                                                                                       |                                | 31,767,695                              |                                   |            |               | 31,851,392 |             
|                                   
|                                   
|                                   
|                                   
|                                    | Less accumulated depreciation                                                                                                         |                                |                                         | 8,732,124                         |            |               |            | 7,337,421    |           
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       | Net container rental equipment |                                         |                                   | 23,035,571 |               |            |              | 24,513,971 |           
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|Other assets                        |                                                                                                                                       |                                | 847,317                                 |                                   |            |               | 868,082    |             
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|                                    |                                                                                                                                       |                                | Total assets                            |                                   | $          | 25,260,341    |            |              | $          | 27,024,135 | 
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|                                    |                                                                                                                                       |                                |                                         | Liabilities and partners capital |            |               |            |              |            |            |  | 
|                                   
|                                   
|                                   
|                                   
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|Current liabilities:                |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|                                    | Interest payable                                                                                                                      |                                | $                                       | 17,662                            |            |               | $          | 35,000       |           
|                                   
|                                   
|                                   
|                                   
|                                    | Current portion of equipment debt                                                                                                     |                                |                                         | 840,600                           |            |               |            | 840,600      |           
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                | Total current liabilities               |                                   |            | 858,262       |            |              |            | 875,600    | 
|                                   
|                                   
|                                   
|                                   
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|Equipment debt less current portion |                                                                                                                                       |                                | 3,152,250                               |                                   |            |               | 3,782,700  |             
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|                                    |                                                                                                                                       |                                | Total liabilities                       |                                   |            | 4,010,512     |            |              |            | 4,658,300  | 
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|Partners capital (deficit):        |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                   
|                                   
|                                   
|                                   
|                                    | General partner                                                                                                                       |                                |                                         | (30,818                           | )          |               |            | (25,351      | )         
|                                   
|                                   
|                                   
|                                   
|                                    | Limited partners                                                                                                                      |                                |                                         | 21,280,647                        |            |               |            | 22,391,186   |           
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                | Total partners capital                 |                                   |            | 21,249,829    |            |              |            | 22,365,835 | 
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             
|                                    |                                                                                                                                       |                                | Total liabilities and partners capital |                                   | $          | 25,260,341    |            |              | $          | 27,024,135 | 
|                                    |                                                                                                                                       |                                |                                         |                                   |            |               |            |             

The accompanying notes are an integral part of these financial statements.

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##### Table of Contents






CRONOS GLOBAL INCOME FUND XVI, L.P.Statements of Operations

(Unaudited)

|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |           |           | 
|---------------------------------------------- | ----------------------------------------- | ---------------------- | ------- | ------------------ | ------- | ----------------- | ------- | ------------- | ------- | ------------- | --------- | --------- | ------- | - | --------- | --------- | --------- | 
|                                               |                                           |                        |         | Three Months Ended |         | Nine Months Ended
|                                               |                                           |                        |         |                    |         |                  
|                                               |                                           |                        |         | September 30,      |         | September 30,     |         | September 30, |         | September 30,
|                                               |                                           |                        |         | 2001               |         | 2000              |         | 2001          |         | 2000         
|                                               |                                           |                        |         |                    |         |                   |         |               |         |              
|Net lease revenue (notes 1 and 3)              |                                           | $                      | 703,834 |                    |         | $                 | 829,493 |               |         | $             | 2,182,778 |           |         | $ | 2,618,985 |          
|                                              
|                                              
|                                              
|                                              
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                              
|                                              
|                                              
|                                              
|Other operating expenses:                      |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                              
|                                              
|                                              
|                                              
|                                               | Depreciation                              |                        |         | 488,179            |         |                   |         | 467,221       |         |               |           | 1,438,208 |         |   |           | 1,343,915 |          
|                                              
|                                              
|                                              
|                                              
|                                               | Other general and administrative expenses |                        |         | 17,955             |         |                   |         | 15,236        |         |               |           | 73,377    |         |   |           | 59,574    |          
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                               |                                           |                        | 506,134 |                    |         |                   | 482,457 |               |         |               | 1,511,585 |           |         |   | 1,403,489 |          
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                               |                                           | Income from operations |         |                    | 197,700 |                   |         |               | 347,036 |               |           |           | 671,193 |   |           |           | 1,215,496 | 
|                                              
|                                              
|                                              
|                                              
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                              
|                                              
|                                              
|                                              
|Other income (loss):                           |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                              
|                                              
|                                              
|                                              
|                                               | Interest income                           |                        |         | 10,346             |         |                   |         | 17,724        |         |               |           | 41,689    |         |   |           | 59,125    |          
|                                              
|                                              
|                                              
|                                              
|                                               | Interest expense                          |                        |         | (58,422            | )       |                   |         | (108,460      | )       |               |           | (220,938  | )       |   |           | (196,929  | )        
|                                              
|                                              
|                                              
|                                              
|                                               | Net gain (loss) on disposal of equipment  |                        |         | 3,278              |         |                   |         | (3,985        | )       |               |           | 5,751     |         |   |           | (4,473    | )        
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                               |                                           |                        | (44,798 | )                  |         |                   | (94,721 | )             |         |               | (173,498  | )         |         |   | (142,277  | )        
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                               |                                           | Net income             |         | $                  | 152,902 |                   |         | $             | 252,315 |               |           | $         | 497,695 |   |           | $         | 1,073,219 | 
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                              
|                                              
|                                              
|                                              
|Allocation of net income:                      |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                              
|                                              
|                                              
|                                              
|                                               | General partner                           |                        | $       | 19,929             |         |                   | $       | 29,504        |         |               | $         | 75,218    |         |   | $         | 91,601    |          
|                                              
|                                              
|                                              
|                                              
|                                               | Limited partners                          |                        |         | 132,973            |         |                   |         | 222,811       |         |               |           | 422,477   |         |   |           | 981,618   |          
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                               |                                           | $                      | 152,902 |                    |         | $                 | 252,315 |               |         | $             | 497,695   |           |         | $ | 1,073,219 |          
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          
|                                              
|                                              
|                                              
|                                              
|Limited partners per unit share of net income |                                           | $                      | 0.08    |                    |         | $                 | 0.14    |               |         | $             | 0.26      |           |         | $ | 0.61      |          
|                                               |                                           |                        |         |                    |         |                   |         |               |         |               |           |           |         |   |           |          

The accompanying notes are an integral part of these financial statements.

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##### Table of Contents






CRONOS GLOBAL INCOME FUND XVI, L.P.

Statements of Cash Flows

(Unaudited)

|                                                       |                                          |   |                   |            |               |   |            |            |  
|------------------------------------------------------ | ---------------------------------------- | - | ----------------- | ---------- | ------------- | - | ---------- | ---------- | -
|                                                       |                                          |   | Nine Months Ended
|                                                       |                                          |   |                  
|                                                       |                                          |   | September 30,     |            | September 30,
|                                                       |                                          |   | 2001              |            | 2000         
|                                                       |                                          |   |                   |            |              
|Net cash provided by operating activities              |                                          | $ | 1,926,758         |            |               | $ | 1,915,533  |           
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                      
|                                                      
|                                                      
|                                                      
|Cash flows provided by (used in) investing activities: |                                          |   |                   |            |               |   |            |           
|                                                      
|                                                      
|                                                      
|                                                      
|                                                       | Proceeds from disposal of equipment      |   |                   | 65,702     |               |   |            | 46,119     |  
|                                                      
|                                                      
|                                                      
|                                                      
|                                                       | Purchase of container rental equipment   |   |                   |           |               |   |            | (5,101,900 | )
|                                                      
|                                                      
|                                                      
|                                                      
|                                                       | Acquisition fees paid to general partner |   |                   |           |               |   |            | (2,915     | )
|                                                       |                                          |   |                   |            |               |   |            |           
|Net cash provided by (used in) investing activities    |                                          |   | 65,702            |            |               |   | (5,058,696 | )         
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                      
|                                                      
|                                                      
|                                                      
|Cash flows (used in) provided by financing activities: |                                          |   |                   |            |               |   |            |           
|                                                      
|                                                      
|                                                      
|                                                      
|                                                       | Proceeds from the issuance of term debt  |   |                   |           |               |   |            | 5,043,600  |  
|                                                      
|                                                      
|                                                      
|                                                      
|                                                       | Repayment of term debt                   |   |                   | (630,450   | )             |   |            | (210,150   | )
|                                                      
|                                                      
|                                                      
|                                                      
|                                                       | Distribution to partners                 |   |                   | (1,613,701 | )             |   |            | (2,020,632 | )
|                                                       |                                          |   |                   |            |               |   |            |           
|Net cash (used in) provided by financing activities    |                                          |   | (2,244,151        | )          |               |   | 2,812,818  |           
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                      
|                                                      
|                                                      
|                                                      
|Net decrease in cash and cash equivalents              |                                          |   | (251,691          | )          |               |   | (330,345   | )         
|                                                      
|                                                      
|                                                      
|                                                      
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                      
|                                                      
|                                                      
|                                                      
|Cash and cash equivalents at January 1                 |                                          |   | 1,379,619         |            |               |   | 1,987,885  |           
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                       |                                          |   |                   |            |               |   |            |           
|                                                      
|                                                      
|                                                      
|                                                      
|Cash and cash equivalents at September 30              |                                          | $ | 1,127,928         |            |               | $ | 1,657,540  |           
|                                                       |                                          |   |                   |            |               |   |            |           

The accompanying notes are an integral part of these financial statements.

6



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##### Table of Contents






CRONOS GLOBAL INCOME FUND XVI, L.P.

Notes to Unaudited Financial Statements



|(1) |  | Summary of Significant Accounting Policies
|--- |  | ------------------------------------------



| | (a) |  | Nature of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | --- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| |     |  | Cronos Global Income Fund XVI, L.P. (the Partnership) is a limited
partnership organized under the laws of the State of California on
September 1, 1995, for the purpose of owning and leasing marine cargo
containers, special purpose containers and container related equipment
worldwide to ocean carriers. To this extent, the Partnerships
operations are subject to the fluctuations of world economic and
political conditions. Such factors may affect the pattern and levels of
world trade. The Partnership believes that the profitability of, and
risks associated with, leases to foreign customers is generally the same
as those of leases to domestic customers. The Partnerships leases
generally require all payments to be made in United States currency.                                                                                                                                                                                                                                                                                                                                                                         
|
| |     |  | Cronos Capital Corp. (CCC) is the general partner and, with its
affiliate Cronos Containers Limited (the Leasing Company), manages the
business of the Partnership. CCC and the Leasing Company also manage the
container leasing business for other partnerships affiliated with the
general partner. The Partnership shall continue until December 31, 2015,
unless sooner terminated upon the occurrence of certain events.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|
| |     |  | The Partnership commenced operations on March 29, 1996, when the minimum
subscription proceeds of $2,000,000 were received from over 100
subscribers (excluding from such count Pennsylvania residents, the
general partner, and all affiliates of the general partner). On February
3, 1997, CCC suspended the offer and sale of units in the Partnership.
The offering terminated on December 27, 1997, at which time 1,599,667
limited partnership units had been sold.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|
| | (b) |  | Leasing Company and Leasing Agent Agreement                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|
| |     |  | The Partnership has entered into a Leasing Agent Agreement whereby
the Leasing Company has the responsibility to manage the leasing
operations of all equipment owned by the Partnership. Pursuant to the
Agreement, the Leasing Company is responsible for leasing, managing and
re-leasing the Partnerships containers to ocean carriers and has full
discretion over which ocean carriers, and suppliers of goods and services
it may deal with. The Leasing Agent Agreement permits the Leasing
Company to use the containers owned by the Partnership, together with
other containers owned or managed by the Leasing Company and its
affiliates, as part of a single fleet operated without regard to
ownership. Since the Leasing Agent Agreement meets the definition of an
operating lease in Statement of Financial Accounting Standards (SFAS) No.
13, it is accounted for as a lease under which the Partnership is lessor
and the Leasing Company is lessee.                                                                                                                                                                                 
|
| |     |  | The Leasing Agent Agreement generally provides that the Leasing
Company will make payments to the Partnership based upon rentals
collected from ocean carriers after deducting direct operating expenses
and management fees to CCC and the Leasing Company. The Leasing Company
leases containers to ocean carriers, generally under operating leases
which are either master leases or term leases (mostly one to five years).
Master leases do not specify the exact number of containers to be leased
or the term that each container will remain on hire but allow the ocean
carrier to pick up and drop off containers at various locations, and
rentals are based upon the number of containers used and the applicable
per-diem rate. Accordingly, rentals under master leases are all variable
and contingent upon the number of containers used. Most containers are
leased to ocean carriers under master leases; leasing agreements with
fixed payment terms are not material to the financial statements. Since
there are no material minimum lease rentals, no disclosure of minimum
lease rentals is provided in these financial statements.

(Continued)

7



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##### Table of Contents



CRONOS GLOBAL INCOME FUND XVI, L.P.

Notes to Unaudited Financial Statements



| | (c) |  | Basis of Accounting                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | --- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| |     |  | The Partnership utilizes the accrual method of accounting. Net
lease revenue is recorded by the Partnership in each period based upon
its leasing agent agreement with the Leasing Company. Net lease revenue
is generally dependent upon operating lease rentals from operating lease
agreements between the Leasing Company and its various lessees, less
direct operating expenses and management fees due in respect of the
containers specified in each operating lease agreement.   
|
| | (d) |  | Depreciation of Rental Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|
| |     |  | Effective June 1, 2001, the estimated depreciable life has been changed
from a twelve-year life to a fifteen-year life and the estimated salvage
value has been changed from 30% to 10% of the original equipment cost.
The effect of these changes is an increase to depreciation expense of
approximately $25,600 from June 1 to September 30, 2001.                                                                                                                                    
|
| | (e) |  | Financial Statement Presentation                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|
| |     |  | These financial statements have been prepared without audit.
Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted
accounting procedures have been omitted. It is suggested that these
financial statements be read in conjunction with the financial statements
and accompanying notes in the Partnerships latest annual report on Form
10-K.                                                           
|
| |     |  | The financial statements are prepared in conformity with accounting
principles generally accepted in the United States of America (GAAP)
requires the Partnership to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reported
period. Actual results could differ from those estimates.
|
| |     |  | The interim financial statements presented herewith reflect all
adjustments of a normal recurring nature which are, in the opinion of
management, necessary to a fair statement of the financial condition and
results of operations for the interim periods presented. The results of
operations for such interim periods are not necessarily indicative of the
results to be expected for the full year.                                                                                

(Continued)

8



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##### Table of Contents



CRONOS GLOBAL INCOME FUND XVI, L.P.

Notes to Unaudited Financial Statements



|(2) |  | Net Lease Receivables Due from Leasing Company                                                                                                                                                                                                                                                                                                                                                                                                                       
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|    |  | Net lease receivables due from the Leasing Company are determined by
deducting direct operating payables and accrued expenses, base management
fees payable, and reimbursed administrative expenses payable to CCC and its
affiliates from the rental billings earned by the Leasing Company under
operating leases to ocean carriers for the containers owned by the
Partnership. Net lease receivables at September 30, 2001 and December 31,
2000 were as follows:

|                                               |  |               |         |              |  |   |         | 
|---------------------------------------------- |  | ------------- | ------- | ------------ |  | - | ------- | 
|                                               |  | September 30, |         | December 31,
|                                               |  | 2001          |         | 2000        
|                                               |  |               |         |             
|Gross lease receivables                        |  | $             | 853,225 |              |  | $ | 879,378 | 
|                                              
|                                              
|                                              
|                                              
|Less:                                          |  |               |         |              |  |   |         | 
|                                              
|                                              
|                                              
|                                              
|Direct operating payables and accrued expenses |  |               | 379,029 |              |  |   | 307,566 | 
|                                              
|                                              
|                                              
|                                              
|Damage protection reserve                      |  |               | 57,107  |              |  |   | 99,909  | 
|                                              
|                                              
|                                              
|                                              
|Base management fees payable                   |  |               | 105,188 |              |  |   | 119,286 | 
|                                              
|                                              
|                                              
|                                              
|Reimbursed administrative expenses             |  |               | 22,867  |              |  |   | 49,538  | 
|                                              
|                                              
|                                              
|                                              
|Allowance for doubtful accounts                |  |               | 39,509  |              |  |   | 40,616  | 
|                                               |  |               |         |              |  |   |         | 
|Net lease receivables                          |  | $             | 249,525 |              |  | $ | 262,463 | 
|                                               |  |               |         |              |  |   |         | 



|(3) |  | Net Lease Revenue                                                                                                                                                                                                                                                                                                                                                                                                 
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|    |  | Net lease revenue is determined by deducting direct operating expenses,
base management fees and reimbursed administrative expenses to CCC and its
affiliates from the rental revenue earned by the Leasing Company under
operating leases to ocean carriers for the containers owned by the
Partnership. Net lease revenue for the three and nine-month periods ended
September 30, 2001 and 2000 was as follows:

|                                    |  |                    |           |                   |  |               |           |               |  |   |           |  |  |   |           | 
|----------------------------------- |  | ------------------ | --------- | ----------------- |  | ------------- | --------- | ------------- |  | - | --------- |  |  | - | --------- | 
|                                    |  | Three Months Ended |           | Nine Months Ended
|                                    |  |                    |           |                  
|                                    |  | September 30,      |           | September 30,     |  | September 30, |           | September 30,
|                                    |  | 2001               |           | 2000              |  | 2001          |           | 2000         
|                                    |  |                    |           |                   |  |               |           |              
|Rental revenue (note 4)             |  | $                  | 1,068,741 |                   |  | $             | 1,241,240 |               |  | $ | 3,230,222 |  |  | $ | 3,596,416 | 
|                                   
|                                   
|                                   
|                                   
|Less:                               |  |                    |           |                   |  |               |           |               |  |   |           |  |  |   |           | 
|                                   
|                                   
|                                   
|                                   
|Rental equipment operating
expenses |  |                    | 242,034   |                   |  |               | 281,781   |               |  |   | 676,308   |  |  |   | 572,712   | 
|                                   
|                                   
|                                   
|                                   
|Base management fees                |  |                    | 73,949    |                   |  |               | 85,261    |               |  |   | 223,858   |  |  |   | 240,216   | 
|                                   
|                                   
|                                   
|                                   
|Reimbursed administrative expenses  |  |                    | 48,924    |                   |  |               | 44,705    |               |  |   | 147,278   |  |  |   | 164,503   | 
|                                    |  |                    |           |                   |  |               |           |               |  |   |           |  |  |   |           | 
|                                    |  | $                  | 703,834   |                   |  | $             | 829,493   |               |  | $ | 2,182,778 |  |  | $ | 2,618,985 | 
|                                    |  |                    |           |                   |  |               |           |               |  |   |           |  |  |   |           | 

(Continued)

9



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##### Table of Contents



CRONOS GLOBAL INCOME FUND XVI, L.P.

Notes to Unaudited Financial Statements



|(4) |  | Operating Segment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|    |  | The Financial Accounting Standards Board has issued SFAS No. 131,
Disclosures about Segments of an Enterprise and Related Information, which
changes the way public business enterprises report financial and descriptive
information about reportable operating segments. An operating segment is a
component of an enterprise that engages in business activities from which it
may earn revenues and incur expenses, whose operating results are regularly
reviewed by the enterprises chief operating decision maker to make
decisions about resources to be allocated to the segment and assess its
performance, and about which separate financial information is available.
Management operates the Partnerships container fleet as a homogenous unit
and has determined, after considering the requirements of SFAS No. 131, that
as such it has a single reportable operating segment.
|   
|    |  | The Partnership derives its revenues from leasing marine cargo containers.
As of September 30, 2001, the Partnership operated 4,478 twenty-foot, 1,487
forty-foot and 1,745 forty-foot high-cube marine dry cargo containers, 89
twenty-foot and 298 forty-foot refrigerated cargo containers, and 52
twenty-four thousand-liter tanks. A summary of gross lease revenue, by
product, for the three and nine-month periods ended September 30, 2001 and
2000 follows:                                                                                                                                                                                                                                                                                                                                                                                                                              

|                        |  |                    |           |                   |  |               |           |               |  |   |           |  |  |   |           | 
|----------------------- |  | ------------------ | --------- | ----------------- |  | ------------- | --------- | ------------- |  | - | --------- |  |  | - | --------- | 
|                        |  | Three Months Ended |           | Nine Months Ended
|                        |  |                    |           |                  
|                        |  | September 30,      |           | September 30,     |  | September 30, |           | September 30,
|                        |  | 2001               |           | 2000              |  | 2001          |           | 2000         
|                        |  |                    |           |                   |  |               |           |              
|Dry cargo containers    |  | $                  | 679,893   |                   |  | $             | 843,285   |               |  | $ | 2,077,851 |  |  | $ | 2,417,154 | 
|                       
|                       
|                       
|                       
|Refrigerated containers |  |                    | 346,923   |                   |  |               | 362,374   |               |  |   | 1,037,869 |  |  |   | 1,062,605 | 
|                       
|                       
|                       
|                       
|Tank containers         |  |                    | 41,925    |                   |  |               | 35,581    |               |  |   | 114,502   |  |  |   | 116,657   | 
|                        |  |                    |           |                   |  |               |           |               |  |   |           |  |  |   |           | 
|Total                   |  | $                  | 1,068,741 |                   |  | $             | 1,241,240 |               |  | $ | 3,230,222 |  |  | $ | 3,596,416 | 
|                        |  |                    |           |                   |  |               |           |               |  |   |           |  |  |   |           | 



|    |  | Due to the Partnerships lack of information regarding the physical location
of its fleet of containers when on lease in the global shipping trade, it is
impracticable to provide the geographic area information required by SFAS
No. 131.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|(5) |  | Equipment Debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   
|    |  | As of September 30, 2001, the Partnerships existing term loan debt was
$3,992,850 plus estimated accrued interest of $17,662. On March 30, 2000,
the Partnership borrowed $5,043,600 under a term loan for the purpose of
acquiring additional equipment. The loan will be repaid in 19 remaining
equal quarterly installments plus interest, through May 31, 2006. Interest
accrues at the rate of 1.75% above the LIBOR rate which is calculated on the
first day of each quarterly interest period. Over the life of the loan, the
interest rates have ranged from 5.75% to 8.58%. The loan is secured by
containers owned by the Partnership, as well as any income generated in
connection with the containers including lease revenue and sales proceeds.
A restricted deposit of $750,000 is held in an account with the lender as
additional collateral.
|   
|    |  | As of September 30, 2001, the estimated fair value of the term loan
debt was $3,966,237. The fair value of the term loan has been calculated
using the market rates prevailing at October 31, 2001.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

(Continued)

10



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##### Table of Contents



CRONOS GLOBAL INCOME FUND XVI, L.P.

Notes to Unaudited Financial Statements



|(6) |  | New Accounting Pronouncements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|    |  | In August 2001, the Financial Accounting Standards Board issued SFAS No.
143, Accounting for Asset Retirement Obligations, which is effective for
all fiscal years beginning after June 15, 2002. This standard requires a
company to record the fair value of a liability for an asset retirement
obligation in the period in which it is incurred, and a corresponding
increase in the carrying value of the related long-lived asset. During
October 2001, the Financial Accounting Standards Board issued SFAS No. 144,
Accounting for the Impairment or Disposal of Long-Lived Assets, which is
effective for all fiscal years beginning after December 15, 2001. SFAS No.
144 supersedes SFAS No. 121, but retains its fundamental provisions relating
to the recognition and measurement of the impairment of long-lived assets to
be held and used, and the measurement of long lived assets to be disposed of
by sale. The Registrant has not yet determined the effect of adoption of
either SFAS 143 or SFAS 144 on its financial position and results of
operations.

******

11



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##### Table of Contents






Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations

It is suggested that the following discussion be read in conjunction with the
Registrants most recent annual report on Form 10-K.

General

The Registrant has entered into a Leasing Agent Agreement whereby the Leasing
Company has the responsibility to manage the leasing operations of all
equipment owned by the Registrant. Pursuant to the Agreement, the Leasing
Company is responsible for leasing, managing and re-leasing the Registrants
containers to ocean carriers and has full discretion over which ocean carriers,
and suppliers of goods and services it may deal with. The Leasing Agent
Agreement permits the Leasing Company to use the containers owned by the
Registrant, together with other containers owned or managed by the Leasing
Company and its affiliates, as part of a single fleet operated without regard
to ownership.

The demand for dry cargo containers has continued to be adversely affected by
the slowdown in the global economy and the resulting excess supply of
containers. The terrorist attacks of September 11, 2001 resulted in further
disruptions of global business activities and raised further questions as to
the short-term direction of the global economy. Transpacific trade, a large
proportion of which consists of technology-related goods, has been largely
affected by the slowdown of the US economy. For the first time in many years,
the aggregate GDP growth rates of the United States, Europe, and Japan have
decelerated, contributing to lower utilization rates and higher container
inventories throughout the world. Container imbalances for all trade routes
involving Asia are expected to continue throughout the remainder of the year
and through the first half of 2002. As a result of the increasing container
inventories worldwide, the production of new containers has declined. Although
a slowdown in new container production could have positive short and long-term
effects for the container leasing industry, a reduction in new containers will
not have a significant impact without an easing of current market constraints
and a strengthening of the worlds economies. In response to the foregoing, the
Leasing Company continues to implement a number of marketing initiatives which
are designed to target identified leasing opportunities and enhance inventory
management of the Registrants fleet.

The Registrants average fleet size and utilization rates for the three and
nine-month periods ended September 30, 2001 and September 30, 2000 were as
follows:

|                                                                    |                         |  |                    |        |                   |  |               |        |               |  |  |        |   |  |  |       |  
|------------------------------------------------------------------- | ----------------------- |  | ------------------ | ------ | ----------------- |  | ------------- | ------ | ------------- |  |  | ------ | - |  |  | ----- | -
|                                                                    |                         |  | Three Months Ended |        | Nine Months Ended
|                                                                    |                         |  |                    |        |                  
|                                                                    |                         |  | September 30,      |        | September 30,     |  | September 30, |        | September 30,
|                                                                    |                         |  | 2001               |        | 2000              |  | 2001          |        | 2000         
|                                                                    |                         |  |                    |        |                   |  |               |        |              
|Average fleet size (measured in
twenty-foot equivalent units
(TEU)) |                         |  |                    |        |                   |  |               |        |               |  |  |        |   |  |  |      
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                    | Dry cargo containers    |  |                    | 10,945 |                   |  |               | 10,837 |               |  |  | 10,956 |   |  |  | 8,797 |  
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                    | Refrigerated containers |  |                    | 686    |                   |  |               | 687    |               |  |  | 687    |   |  |  | 687   |  
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                    | Tank containers         |  |                    | 52     |                   |  |               | 52     |               |  |  | 52     |   |  |  | 52    |  
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|Average Utilization                                                 |                         |  |                    |        |                   |  |               |        |               |  |  |        |   |  |  |      
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                    | Dry cargo containers    |  |                    | 74     | %                 |  |               | 86     | %             |  |  | 75     | % |  |  | 84    | %
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                    | Refrigerated containers |  |                    | 98     | %                 |  |               | 98     | %             |  |  | 97     | % |  |  | 98    | %
|                                                                   
|                                                                   
|                                                                   
|                                                                   
|                                                                    | Tank containers         |  |                    | 83     | %                 |  |               | 66     | %             |  |  | 76     | % |  |  | 72    | %

Dry cargo container average per-diem rental rates for the three and nine-month
periods ended September 30, 2001 declined approximately 10% and 5%,
respectively, when compared to the same periods in the prior year.
Refrigerated container average per-diem rental rates for the three and
nine-month periods ended September 30, 2001 declined approximately 3% and 1%,
respectively, when compared to the same periods in the prior year. Tank
container average per-diem rental rates for the three and nine-month periods
ended September 30, 2001 declined approximately 3% and 4%, respectively, when
compared to the same periods of the prior year.

(continued)

12



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##### Table of Contents



Three Months Ended September 30, 2001 Compared to the Three Months Ended
September 30, 2000

Income from operationsfor the three months ended September 30, 2001 was
$197,700, as compared to $347,036 during the corresponding period of 2000. The
decrease was primarily due to the impact of current market constraints on
utilization and per-diem rental rates, and their cumulative effect on net lease
revenue.

Net lease revenueof $703,834 for the three months ended September 30, 2001 was
$125,659 lower than in the corresponding period of 2000. The decrease was due
to a $172,499 decline in gross rental revenue (a component of net lease
revenue) from the same period in 2000. Gross rental revenue was impacted by
the Registrants lower per-diem rental rates and a decrease in the fleets
aggregate utilization rate. Other components of net lease revenue, including
management fees and reimbursed administrative expenses, were lower by a
combined $7,093 when compared to the corresponding period in 2000, and
partially offset the decline in gross lease revenue. Direct operating expenses
decreased by $39,747 when compared to the corresponding period in 2000.
Contributing to the decrease in direct operating expenses were decreases in
repair and maintenance expenses.

Depreciation expenseof $488,179 for the three months ended September 30, 2001
was $20,958 higher than the same period in 2000. Effective June 1, 2001, the
Registrant changed the estimated life of its rental container equipment from an
estimated 12 year life to a 15 year life and its estimated salvage value from
30% to 10% of original equipment cost. The effect of these changes was an
increase in depreciation expense of approximately $19,400 for the three months
ended September 30, 2001.

Other general and administrative expensesincreased to $17,955 in the third
quarter of 2001, from $15,236 in the corresponding period of 2000, representing
an increase of $2,719 from the same period in 2000. Contributing to this
increase were costs related to investor communications.

Net gain on disposal of equipmentwas a result of the Registrant disposing of 5
containers during the three-month period ended September 30, 2001. Similarly,
seven containers were disposed of during the same period in 2000. These
disposals resulted in a gain of $3,278 for the three-month period ended
September 30, 2001, as compared to a loss of $3,985 for the three-month period
ended September 30, 2000. The Registrant believes that the net gain on
container disposals in the three-month period ended September 30, 2001 was a
result of various factors including the age, condition, suitability for
continued leasing, as well as the geographical location of the containers when
disposed. These factors will continue to influence the decision to repair or
dispose of a container when it is returned by a lessee, as well as the amount
of sales proceeds received and the related gain or loss on container disposals.
The level of the Registrants container disposals in subsequent periods will
also contribute to fluctuations in the net gain or loss on disposals. As a
result of current world events and market conditions, the Registrant is
re-evaluating its asset impairment criteria.

Nine Months Ended September 30, 2001 Compared to the Nine Months Ended
September 30, 2000

Income from operationsfor the nine-month period ended September 30, 2001 was
$671,193, as compared to $1,215,496 during the corresponding period of 2000.
The decrease was primarily due to a $94,293 increase in depreciation expense
and a decline in net lease revenue.

Net lease revenueof $2,182,778 for the nine-month period ended September 30,
2001 was $436,207 lower than in the corresponding period of 2000. The decrease
was due to a $366,194 decline in gross rental revenue (a component of net lease
revenue) from the same period in 2000. Gross rental revenue was impacted by
the Registrants lower per-diem rental rates and a decrease in the fleets
aggregate utilization rate. Other components of net lease revenue, including
management fees and reimbursed administrative expenses were lower by a combined
$33,583, when compared to the corresponding period in 2000, and partially
offset the decline in gross lease revenue. Direct operating expenses increased
$103,596 when compared to the corresponding period in 2000. Contributing to
the increase in direct operating expenses were increases in storage and
repositioning.

(continued)

13



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##### Table of Contents



Depreciation expenseof $1,438,208 for the nine-month period ended September
30, 2001, was $94,293 higher than the same period in 2000. Effective June 1,
2001, the Registrant changed the estimated life of its rental container
equipment from an estimated 12 year life to a 15 year life and its estimated
salvage value from 30% to 10% of original equipment cost. The effect of these
depreciation changes was an increase in depreciation expense of approximately
$25,600 from June 1 to September 30, 2001.

Other general and administrative expensesincreased to $73,377 during the
nine-month period ended September 30, 2001, from $59,574 in the corresponding
period of 2000, representing an increase of $13,803 from the same period in
2000. Contributing to this increase were costs related to investor
communications, partially offset by a decrease in professional fees.

Net gain (loss) on disposal of equipmentwas a result of the Registrant
disposing of 22 containers during the first nine months of 2001 as compared to
7 containers during the first nine months of 2000. These disposals resulted in
a gain of $5,751 for the nine-month period ended September 30, 2001, as
compared to a loss of $4,473 for the nine-month period ended
September 30, 2000.

Liquidity and Capital Resources

Cash from Operating Activities:Net cash provided by operating activities was
$1,926,758 and $1,915,533 during the first nine months of 2001 and 2000,
respectively. The net cash generated in 2001 included earnings from operations,
and $15,875 in net lease receivable due from the leasing company. The net cash
generated in 2000 reflected earnings from operations.

Cash from Investing Activities:Net cash provided by investing activities was
$65,702 in the first nine months of 2001. This amount represented sales
proceeds generated from the sale of container equipment. Net cash used in
investing activities was $5,058,696 in the first nine months of 2000. This
amount was comprised of $5,101,900 used to purchase container rental equipment,
combined with sales proceeds generated from the sale of container equipment.

Cash from Financing Activities:Net cash used in financing activities was
$2,244,151 during the first nine months of 2001. This amount was comprised of
distributions to the Registrants general and limited partners totaling
$1,613,701, and the repayment of the Registrants term debt in the amount of
$630,450. In comparison, financing activities provided cash of $2,812,818
during the first nine months of 2000. This change was a result of $5,043,600
in proceeds from the issuance of term debt, offset by distributions of
$2,020,632 to the Registrants general and limited partners and repayment of
term debt of $210,150. The Registrants fleet size, as well as current market
conditions, may produce lower operating results and, consequently, lower
distributions to its partners in subsequent periods. Sales proceeds
distributed to its partners may fluctuate in subsequent periods, reflecting the
level of container disposals. Additionally, the Registrants term debt is
secured by the containers owned by Registrant, as well as any income generated
in connection with the containers including, lease revenue and sales proceeds.
The provider of the debt is subrogated to all of the Registrants interest,
rights and remedies in respect to this collateral, which could further impact
distributions to the general and limited partners should market conditions
continue to deteriorate.

Capital Resources

Aside from the initial working capital reserve retained from the gross
subscription proceeds (equal to approximately 1% of such proceeds), the
Registrant relied primarily on container rental receipts to service its term
debt, make distributions to its general and limited partners, and finance
current operating needs. No credit lines are maintained to finance working
capital.




Item 3. Quantitative and Qualitative Disclosures About Market Risk

Exchange rate risk:Substantially all of the Registrants revenues are billed
and paid in US dollars and a significant portion of costs are billed and paid
in US dollars. Of the remaining costs, the majority are individually small,
unpredictable and incurred in various denominations and thus are not suitable
for cost effective hedging. From time to time, the Leasing Company hedges a
portion of the expenses that are predictable and are principally in UK pounds
sterling. As exchange rates are outside of the control of the Company, there
can be no assurance that such fluctuations will not adversely effect its
results of operations and financial condition.

14



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##### Table of Contents






PART II  OTHER INFORMATION




Item 6. Exhibits and Reports on Form 8-K



|(a) |  | Exhibits
|--- |  | --------

|        |  |                                                                                               |  |                 
|------- |  | --------------------------------------------------------------------------------------------- |  | ----------------
|Exhibit |  |                                                                                               |  |                 
|No.     |  | Description                                                                                   |  | Method of Filing
|        |  |                                                                                               |  |                 
|3(a)    |  | Limited Partnership Agreement of the Registrant,
amended and restated as of December 28, 1995 |  | *               
|       
|       
|       
|       
|        |  |                                                                                               |  |                 
|       
|       
|       
|       
|3(b)    |  | Certificate of Limited Partnership of the Registrant                                          |  | **              
|       
|       
|       
|       
|        |  |                                                                                               |  |                 
|       
|       
|       
|       
|10      |  | Form of Leasing Agent Agreement with Cronos Containers Limited                                |  | ***             



|(b) |  | Reports on Form 8-K                                                                             
|--- |  | ------------------------------------------------------------------------------------------------
|   
|    |  | No reports on Form 8-K were filed by the Registrant during the quarter ended
September 30, 2001.



---

|*   |  | Incorporated by reference to Exhibit A to the Prospectus of the
Registrant dated December 28, 1995, included as part of Registration
Statement on Form S-1 (No. 33-98290)
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|   
|   
|   
|**  |  | Incorporated by reference to Exhibit 3.2 to the Registration Statement on
Form S-1 (No. 33-98290)                                                                          
|   
|   
|   
|   
|*** |  | Incorporated by reference to Exhibit 10.2 to the Registration Statement
on Form S-1 (No. 33-98290)                                                                         

15



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##### Table of Contents



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.

| |  |                                     |  |                                                                                                                                                    
| |  | ----------------------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------
| |  | CRONOS GLOBAL INCOME FUND XVI, L.P.
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| |  |                                     |  |                                                                                                                                                    
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| |  | By                                  |  | Cronos Capital Corp.
The General Partner                                                                                                           
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| |  |                                     |  |                                                                                                                                                    
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| |  |                                     |  |                                                                                                                                                    
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| |  | By                                  |  | /s/ Dennis J. Tietz

Dennis J. Tietz
President and Director of Cronos Capital Corp. (CCC)
Principal Executive Officer of CCC                     
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| |  |                                     |  |                                                                                                                                                    
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| |  |                                     |  |                                                                                                                                                    
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| |  | By                                  |  | /s/ John Kallas

John Kallas
Chief Financial Officer and
Director of Cronos Capital Corp. (CCC)
Principal Financial and Accounting Officer of CCC

Date: November 14, 2001

16



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##### Table of Contents



EXHIBIT INDEX

|        |  |                                                                                               |  |                 
|------- |  | --------------------------------------------------------------------------------------------- |  | ----------------
|Exhibit |  |                                                                                               |  |                 
|No.     |  | Description                                                                                   |  | Method of Filing
|        |  |                                                                                               |  |                 
|3(a)    |  | Limited Partnership Agreement of the Registrant,
amended and restated as of December 28, 1995 |  | *               
|       
|       
|       
|       
|        |  |                                                                                               |  |                 
|       
|       
|       
|       
|3(b)    |  | Certificate of Limited Partnership of the Registrant                                          |  | **              
|       
|       
|       
|       
|        |  |                                                                                               |  |                 
|       
|       
|       
|       
|10      |  | Form of Leasing Agent Agreement with Cronos Containers Limited                                |  | ***             



---

|*   |  | Incorporated by reference to Exhibit A to the Prospectus of the
Registrant dated December 28, 1995, included as part of Registration
Statement on Form S-1 (No. 33-98290)
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|   
|   
|   
|**  |  | Incorporated by reference to Exhibit 3.2 to the Registration Statement on
Form S-1 (No. 33-98290)                                                                          
|   
|   
|   
|   
|*** |  | Incorporated by reference to Exhibit 10.2 to the Registration Statement
on Form S-1 (No. 33-98290)