##### Table of Contents



UNITED STATES
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, 2009
 OR
 o
    
    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.
  California
    
    94-3230380(State or other jurisdiction of 
incorporation or organization)
    
    (I.R.S. Employer
Identification No.)
 
 
 þ o
 o o
  Large accelerated filer o
Accelerated filer o
Non-accelerated filer o(Do not check if a smaller reporting company)
Smaller reporting company þ
 o þ




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##### 



CRONOS GLOBAL INCOME FUND XVI, L.P.
 Report on Form 10-Q for the Quarterly Period
Ended September 30, 2009
 TABLE OF CONTENTS
 PAGEPART I  FINANCIAL INFORMATION
    
    
    1Item 1. Financial Statements
    
    
    1Unaudited Condensed Balance Sheets as of September 30, 2009 and December 31, 2008
    
    
    2Unaudited Condensed Statements of Operations for the three and nine months ended September 30, 2009 and 2008
    
    
    3Unaudited Condensed Statements of Cash Flows for the nine months ended September 30, 2009 and 2008
    
    
    4Unaudited Notes to the Condensed Financial Statements
    
    
    5Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    11Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    16Item 4. Controls and Procedures
    
    
    16Item 4T. Controls and Procedures
    
    
    16PART II  OTHER INFORMATION
    
    
    17Item 1. Legal Proceedings
    
    
    17Item 1A. Risk Factors
    
    
    17Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    17Item 3. Defaults Upon Senior Securities
    
    
    17Item 4. Submissions of Matters to a Vote of Security Holders
    
    
    17Item 5. Other Information
    
    
    17Item 6. Exhibits
    
    
    17EX-17.AEX-31.1EX-31.2EX-32




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PART I  FINANCIAL INFORMATION
 
 Financial Statements
   1




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CRONOS GLOBAL INCOME FUND XVI, L.P.
 
 Condensed Balance Sheets
 (Unaudited)
 September 30,
    
    
    December 31,2009
    
    
    2008AssetsCurrent assets:Cash
    
    $
    674,190
    
    
    $
    886,181Net lease receivables due from Leasing Agent
    
    
    198,340
    
    
    
    396,009Direct finance lease receivable, due from Leasing Agent within one year, net
    
    
    22,753
    
    
    
    22,382Total current assets
    
    
    895,283
    
    
    
    1,304,572Direct finance lease receivable, due from Leasing Agent after one year, net
    
    
    42,948
    
    
    
    21,091Container rental equipment, at cost
    
    
    15,097,946
    
    
    
    18,016,216Less accumulated depreciation
    
    
    (11,004,164
    )
    
    
    (12,517,613
    )Net container rental equipment
    
    
    4,093,782
    
    
    
    5,498,603Total assets
    
    $
    5,032,013
    
    
    $
    6,824,266Partners CapitalPartners capital:General partner
    
    
    1,074
    
    
    
    607Limited partners
    
    
    5,030,939
    
    
    
    6,823,659Total partners capital
    
    $
    5,032,013
    
    
    $
    6,824,266
  2




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CRONOS GLOBAL INCOME FUND XVI, L.P.
 
 Condensed Statements of Operations
 (Unaudited)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,
    
    
    September 30,
    
    
    September 30,2009
    
    
    2008
    
    
    2009
    
    
    2008Net lease revenue from Leasing Agent
    
    $
    181,459
    
    
    $
    397,201
    
    
    $
    704,843
    
    
    $
    1,211,404Other operating (expenses) income:Depreciation
    
    
    (226,548
    )
    
    
    (321,888
    )
    
    
    (732,033
    )
    
    
    (995,975
    )Other general and administrative expenses
    
    
    (33,328
    )
    
    
    (38,614
    )
    
    
    (86,637
    )
    
    
    (115,780
    )Net gain on disposal of equipment
    
    
    76,542
    
    
    
    50,682
    
    
    
    164,178
    
    
    
    92,527(183,334
    )
    
    
    (309,820
    )
    
    
    (654,492
    )
    
    
    (1,019,228
    )(Loss) income from operations
    
    
    (1,875
    )
    
    
    87,381
    
    
    
    50,351
    
    
    
    192,176Other income:Interest income
    
    
    
    
    
    
    1,059
    
    
    
    
    
    
    
    5,196Net (loss) income
    
    $
    (1,875
    )
    
    $
    88,440
    
    
    $
    50,351
    
    
    $
    197,372Allocation of net (loss) income:General partner
    
    $
    15,697
    
    
    $
    23,815
    
    
    $
    56,777
    
    
    $
    94,649Limited partners
    
    
    (17,572
    )
    
    
    64,625
    
    
    
    (6,426
    )
    
    
    102,723$
    (1,875
    )
    
    $
    88,440
    
    
    $
    50,351
    
    
    $
    197,372Limited partners per unit share of net
(loss) income
    
    $
    (0.01
    )
    
    $
    0.04
    
    
    $
    
    
    
    $
    0.06
  3




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CRONOS GLOBAL INCOME FUND XVI, L.P.
 
 Condensed Statements of Cash Flows
 (Unaudited)
 Nine Months EndedSeptember 30,
    
    
    September 30,2009
    
    
    2008Net cash provided by operating activities
    
    $
    719,040
    
    
    $
    1,159,128Cash flows from investing activities:Proceeds from sale of container rental equipment
    
    
    911,574
    
    
    
    922,147Cash flows from financing activities:Distributions to general partner
    
    
    (56,311
    )
    
    
    (69,567
    )Distributions to limited partners
    
    
    (1,786,294
    )
    
    
    (1,919,600
    )Net cash used in financing activities
    
    
    (1,842,605
    )
    
    
    (1,989,167
    )Net (decrease) increase in cash
    
    
    (211,991
    )
    
    
    92,108Cash at the beginning of the period
    
    
    886,181
    
    
    
    831,160Cash at the end of the period
    
    $
    674,190
    
    
    $
    923,268
  4




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CRONOS GLOBAL INCOME FUND XVI, L.P.
 
 Notes to Unaudited Condensed Financial Statements
 Summary of Significant Accounting Policies
 (a)
    
    Nature of OperationsCronos Global Income Fund XVI, L.P. (the Partnership) is a limited partnership that was
organized under the laws of the State of California on September 1, 1995, for the purpose
of owning and leasing dry and specialized marine cargo containers to ocean carriers. 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, Cronos Capital Corp. (CCC), the general partner, and all
affiliates of CCC). 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.CCC and its affiliate, Cronos Containers Limited (the Leasing Agent), manage the business
of the Partnership. CCC and the Leasing Agent also manage the container leasing business
for other partnerships affiliated with CCC.In April 2009, the Partnership commenced its 14th year of operations and continued its
liquidation phase, wherein CCC focuses its attention on the retirement of the remaining
equipment in the Partnerships container fleet. At September 30, 2009, approximately 60%
of the original equipment remained in the Partnerships fleet. CCC will take several
factors into consideration when examining options for the timing of the disposal of the
containers. These factors include the level of gross lease revenue generated by the
diminishing fleet, the level of costs relative to this revenue, projected disposal proceeds
on the disposition of the Partnerships containers, overall market conditions and any
foreseeable changes in other general and administrative expenses.The Partnerships operations are subject to economic, political and business risks inherent
in a business environment. The Partnership believes that the profitability of, and risks
associated with, leases to foreign customers is generally the same as those of domestic
customers. The Partnerships leases generally require all payments to be made in United
States dollars.(b)
    
    Leasing AgentThe Partnership and the Leasing Agent have entered into an agreement (the Leasing Agent
Agreement) whereby the Leasing Agent manages the leasing operations for all equipment
owned by the Partnership. In addition to responsibility for leasing and re-leasing the
equipment to ocean carriers, the Leasing Agent disposes of the containers at the end of
their useful economic life 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
Agent to use the containers owned by the Partnership, together with other containers owned
or managed by the Leasing Agent and its affiliates, as part of a single fleet operated
without regard to ownership. The Leasing Agent Agreement generally provides that the
Leasing Agent will make payments to the Partnership based upon rentals collected from ocean
carriers after deducting direct operating expenses and management fees due both to CCC and
the Leasing Agent.The Leasing Agent leases containers to ocean carriers, generally under operating leases
which are either master leases or term leases (mostly one to five years) and periodically
under direct finance leases.
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CRONOS GLOBAL INCOME FUND XVI, L.P.
 Notes to Unaudited Condensed Financial Statements
 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. Rentals are charged and recognized based upon the number
of containers used and the applicable per-diem rate. Accordingly, rentals under master
leases are variable and contingent upon the number of containers used.Term leases are for a fixed quantity of containers for a fixed period of time, typically
varying from three to five years. In most cases, containers cannot be returned prior to
the expiration of the lease. Term lease agreements may contain early termination penalties
that apply in the event of early redelivery. Term leases provide greater revenue stability
to the lessor, usually at lower lease rates than master leases. Ocean carriers use term
leases to lower their operating costs when they have a need for an identified number of
containers for a specified term. Rentals under term leases are charged and recognized
based upon the number of containers leased, the applicable per-diem rate and the length of
the lease, irrespective of the number of days which the customer actually uses the
containers.Direct finance leases are long-term in nature, usually ranging from three to seven years,
and require relatively low levels of customer service. They ordinarily require fixed
payments over a defined period and provide customers with an option to purchase the subject
containers at the end of the lease term. Per-diem rates include an element of repayment of
capital and therefore are usually higher than rates charged under either term or master
leases.(c)
    
    Basis of PresentationThe accompanying unaudited condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of America
(US GAAP) for interim financial information and with the instructions to Form 10-Q and
Article 10 of Regulation S-X. Accordingly, they do not include all of the information and
footnotes required by US GAAP for annual financial statements. In the opinion of
management, all adjustments (consisting of normal recurring accruals) considered necessary
for a fair presentation have been included. Operating results for the interim period are
not necessarily indicative of the results that may be expected for the fiscal year ending
December 31, 2009. For further information, refer to the financial statements and
footnotes thereto included in the Partnerships Annual Report on Form 10-K for the year
ended December 31, 2008.(d)
    
    Use of Estimates in Interim Financial StatementsThe preparation of interim financial statements, in conformity with US GAAP and the
Securities and Exchange Commission (SEC) regulations for interim reporting, 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. The most significant estimates are those relating to the carrying value of
equipment, including estimates relating to depreciable lives, residual values and asset
impairments, and those relating to the allowance for doubtful accounts. Actual results
could differ from those estimates.
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CRONOS GLOBAL INCOME FUND XVI, L.P.
 Notes to Unaudited Condensed Financial Statements
 (e)
    
    Container Rental EquipmentContainer rental equipment is depreciated over a 15-year life using the straight-line basis
to its residual value of 10% of original equipment cost. CCC evaluates the period of
depreciation and residual values to determine whether subsequent events and circumstances
warrant revised estimates of useful lives.In accordance with Accounting Standards Codification (the Codification or ASC)
360-10-35  Accounting for the Impairment or Disposal of Long-Lived Assets, container
rental equipment is considered to be impaired if the carrying value of the asset exceeds
the expected future cash flows from related operations (undiscounted and without interest
charges). If impairment is deemed to exist, the assets are written down to fair value. An
analysis of projected future cash flows from container rental equipment operations is
prepared when indicators, such as material changes in market conditions, are present.
Indicators of a potential impairment include a sustained decrease in utilization or
operating profitability, or indications of technological obsolescence. The primary
variables utilized in the analysis are current and projected utilization rates, per-diem
rental rates, direct operating expenses, fleet size, container disposal proceeds and the
timing of container disposals. Additionally, the Partnership evaluates future cash flows
and potential impairment for its entire container fleet rather than for container type or
each individual container. As a result, future losses could result for individual
container dispositions due to various factors, including age, condition, suitability for
continued leasing, as well as the geographical location of containers when disposed. There
were no impairment charges recorded against the carrying value of container rental
equipment for the nine-month periods ended September 30, 2009 and 2008.(f)
    
    Allocation of Net Income or Loss, Partnership Distributions and Partners CapitalNet income or loss has been allocated between the general and limited partners in
accordance with the Partnership Agreement. The Partnership Agreement generally provides
that CCC shall at all times maintain at least a 1% interest in each item of income or loss,
including the gain arising from the sale of containers. The Partnership Agreement further
provides that the gain arising from the sale of containers be allocated first to the
partners with capital account deficit balances in an amount sufficient to eliminate any
deficit capital account balance. Thereafter, the Partnerships gains arising from the sale
of containers are allocated to the partners in accordance with their share of sale proceeds
distributed. The Partnership Agreement also provides for income (excluding the gain
arising from the sale of containers) for any period, be allocated to CCC in an amount equal
to that portion of CCCs distributions in excess of 1% of the total distributions made to
both CCC and the limited partners of the Partnership for such period, as well as other
allocation adjustments.Actual cash distributions differ from the allocations of net income or loss between the
general and limited partners as presented in these financial statements. Partnership
distributions are paid to the partners (general and limited) from distributable cash from
operations, allocated 95% to the limited partners and 5% to CCC. Distributions of sales
proceeds are allocated 99% to the limited partners and 1% to CCC. The allocations remain
in effect until such time as the limited partners have received from the Partnership
aggregate distributions in an amount equal to their capital contributions plus an 8%
cumulative, compounded (daily), annual return on their adjusted capital contributions.
Thereafter, all Partnership distributions will be allocated 85% to the limited partners and
15% to CCC. Cash distributions from operations to CCC in excess of 5% of distributable
cash will be considered an incentive fee and will be recorded as compensation to CCC, with
the remaining distributions from operations charged to partners capital.
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CRONOS GLOBAL INCOME FUND XVI, L.P.
 Notes to Unaudited Condensed Financial Statements
 Upon dissolution, the assets of the Partnership will be sold and the proceeds thereof
distributed as follows: (i) all of the Partnerships debts and liabilities to persons other
than CCC or the limited partners shall be paid and discharged; (ii) all of the
Partnerships debts and liabilities to CCC and the limited partners shall be paid and
discharged; and (iii) the balance of such proceeds shall be distributed to CCC and the
limited partners in accordance with the positive balances of CCC and the limited partners
capital accounts. CCC shall contribute to the Partnership an amount equal to the lesser of
the deficit balance in its capital account at the time of such liquidation, or 1.01% of the
excess of the Limited Partners capital contribution to the Partnership over the capital
contributions previously made to the Partnership by CCC, after giving effect to the
allocation of income or loss arising from the liquidation of the Partnerships assets.(g)
    
    Recent Accounting PronouncementsIn June 2009, the FASB issued Statement No. 168  The FASB Accounting Standards
Codification and the Hierarchy of Generally Accepted Accounting Principles  a replacement
of FASB Statement No. 162. The FASB Accounting Standards Codification (the Codification
or ASC) will be the single source of authoritative non-governmental U.S. generally
accepted accounting principles. Rules and interpretive releases of the SEC under authority
of federal securities laws are also sources of authoritative GAAP for SEC registrants.
SFAS 168 is effective for interim and annual periods ending after September 15, 2009. All
existing accounting standards are superseded as described in SFAS 168. All other
accounting literature not included in the Codification is non-authoritative.
 Net Lease Receivables Due from Leasing Agent
  September 30,
    
    
    December 31,2009
    
    
    2008Gross lease receivables
    
    $
    455,806
    
    
    $
    607,309Less:Direct operating expenses payable
    
    
    190,898
    
    
    
    131,180Base management fees payable
    
    
    19,403
    
    
    
    30,874Reimbursed administrative expenses payable
    
    
    6,589
    
    
    
    6,421Allowance for doubtful accounts
    
    
    40,576
    
    
    
    42,825Net lease receivables due from Leasing Agent
    
    $
    198,340
    
    
    $
    396,009
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CRONOS GLOBAL INCOME FUND XVI, L.P.
 Notes to Unaudited Condensed Financial Statements
 Net Lease Revenue
  Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,
    
    
    September 30,
    
    
    September 30,2009
    
    
    2008
    
    
    2009
    
    
    2008Gross lease revenue
    
    $
    333,252
    
    
    $
    538,687
    
    
    $
    1,166,746
    
    
    $
    1,673,217Interest income (loss) from direct finance lease
    
    
    5,557
    
    
    
    2,539
    
    
    
    10,739
    
    
    
    (3,000
    )Less:Direct operating expenses
    
    
    114,312
    
    
    
    84,573
    
    
    
    330,954
    
    
    
    264,560Base management fees
    
    
    23,535
    
    
    
    37,407
    
    
    
    81,151
    
    
    
    115,089Reimbursed administrative expensesSalaries
    
    
    14,783
    
    
    
    16,696
    
    
    
    45,568
    
    
    
    59,971Other payroll related expenses
    
    
    1,215
    
    
    
    1,410
    
    
    
    4,280
    
    
    
    6,163General and administrative expenses
    
    
    3,505
    
    
    
    3,939
    
    
    
    10,689
    
    
    
    13,030157,350
    
    
    
    144,025
    
    
    
    472,642
    
    
    
    458,813Net lease revenue
    
    $
    181,459
    
    
    $
    397,201
    
    
    $
    704,843
    
    
    $
    1,211,404
 Operating Segment
   Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,
    
    
    September 30,
    
    
    September 30,2009
    
    
    2008
    
    
    2009
    
    
    2008Dry cargo containers
    
    $
    256,508
    
    
    $
    418,447
    
    
    $
    899,779
    
    
    $
    1,265,888Refrigerated containers
    
    
    40,908
    
    
    
    80,328
    
    
    
    154,391
    
    
    
    280,846Tank containers
    
    
    35,836
    
    
    
    39,912
    
    
    
    112,576
    
    
    
    126,483Total
    
    $
    333,252
    
    
    $
    538,687
    
    
    $
    1,116,746
    
    
    $
    1,673,217
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CRONOS GLOBAL INCOME FUND XVI, L.P.
 Notes to Unaudited Condensed Financial Statements
 Limited Partners Capital
  Nine Months EndedSeptember 30,
    
    
    September 30,2009
    
    
    2008Cash Distribution from Operations
    
    $
    899,812
    
    
    $
    1,179,753Cash Distribution from Sales Proceeds
    
    
    886,482
    
    
    
    739,847Total Cash Distributions
    
    $
    1,786,294
    
    
    $
    1,919,600
   10




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Managements Discussion and Analysis of Financial Condition and Results of Operations
  Results of Operations
 Partnership Overview
   
    
    Activity-related expenses, including agent costs and depot costs such as repairs,
maintenance and handling;
    
    Inventory-related expenses for off-hire containers, comprising storage and
repositioning costs. These costs are sensitive to the quantity of off-hire containers
as well as the frequency at which containers are re-delivered and the frequency and size
of repositioning moves undertaken; and
    
    Legal and other expenses, including legal costs related to the recovery of containers
and doubtful accounts, insurance and provisions for doubtful accounts.
  Dry Cargo
    
    Refrigerated
    
    TankContainers
    
    Containers
    
    Containers
    
    TotalContainer on lease:Master lease
    
    
    4,107
    
    
    
    70
    
    
    
    20
    
    
    
    4,197Term leaseShort term1
    
    
    348
    
    
    
    4
    
    
    
    12
    
    
    
    364Long term2
    
    
    1,077
    
    
    
    33
    
    
    
    9
    
    
    
    1,1191,425
    
    
    
    37
    
    
    
    21
    
    
    
    1,483Subtotal
    
    
    5,532
    
    
    
    107
    
    
    
    41
    
    
    
    5,680Containers off-hire
    
    
    1,383
    
    
    
    28
    
    
    
    9
    
    
    
    1,420Total container fleet
    
    
    6,915
    
    
    
    135
    
    
    
    50
    
    
    
    7,100
 
 1.
    
    Short term leases represent term leases that are either scheduled for renegotiation or that
may expire on or before September 2010.2.
    
    Long term leases represent term leases, the majority of which will expire between October
2010 and December 2021. 11




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Dry Cargo
    
    RefrigeratedContainers
    
    Containers
    
    Tank Containers
    
    TotalTEU
    
    %
    
    TEU
    
    %
    
    TEU
    
    %
    
    TEU
    
    %Total purchases
    
    
    11,053
    
    
    
    100
    %
    
    
    690
    
    
    
    100
    %
    
    
    52
    
    
    
    100
    %
    
    
    11,795
    
    
    
    100
    %Less disposals
    
    
    4,138
    
    
    
    37
    %
    
    
    555
    
    
    
    80
    %
    
    
    2
    
    
    
    4
    %
    
    
    4,695
    
    
    
    40
    %Remaining fleet at
September 30, 2009
    
    
    6,915
    
    
    
    63
    %
    
    
    135
    
    
    
    20
    %
    
    
    50
    
    
    
    96
    %
    
    
    7,100
    
    
    
    60
    %
 Market & Industry Overview
     Nine Months EndedSeptember 30,
    
    September 30,2009
    
    2008Fleet size (measured in TEUs)Dry cargo containers
    
    
    7,345
    
    
    
    8,278Refrigerated containers
    
    
    173
    
    
    
    333Tank containers
    
    
    51
    
    
    
    51Utilization rates for combined fleetAverage for the period
    
    
    83
    %
    
    
    92
    %Position at end of period
    
    
    80
    %
    
    
    95
    %
 12




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Overview
 Net loss
 
    
    a 14% reduction in the size of the container fleet (measured in TEUs) as equipment that
was redelivered by customers was sold;
    
    a decline in the levels of net lease revenues, resulting from the combined effect of a
reduction in the size of the fleet, lower utilization and lease per-diem levels; and
    
    a decrease in depreciation expense as a result of the declining fleet size.
 Analysis and discussion
 Net lease revenue
 Depreciation expense
 Other general and administrative expenses
 Net gains on disposal of equipment
 Nine Months Ended September 30, 2009 Compared to the Nine Months Ended September 30, 2008
 Overview
 Net income
 
    
    a 13% reduction in the size of the container fleet (measured in TEUs) as equipment that
was redelivered by customers was sold;
    
    a decline in the levels of net lease revenues, resulting from the combined effect of a
reduction in the size of the fleet, lower utilization, lease per-diem levels and increased
direct operating expenses; and
    
    a decrease in depreciation expense as a result of the declining fleet size.
 Analysis and discussion
 Net lease revenue
 13




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Depreciation expense
 Other general and administrative expenses
 Net gains on disposal of equipment
 Liquidity and Capital Resources
     Cash from Operating Activities:
 14




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Cash from Investing Activities:
 Cash from Financing Activities
 Critical Accounting Policies
  
    
    Container equipment  depreciable lives and residual values.
    
    Container equipment  recoverability and valuation in accordance with ASC 360-10-35
  Accounting for the Impairment or Disposal of Long Lived Assets.
    
    Allowance for doubtful accounts.
  Inflation
  15




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##### Table of Contents



Quantitative and Qualitative Disclosures About Market Risk
 Exchange rate risk
 Credit risk:
 
 Controls and Procedures
  
 Controls and Procedures
  16




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##### Table of Contents



PART II  OTHER INFORMATION
 
 Legal Proceedings
  
 Risk Factors
  
 Unregistered Sales of Equity Securities and Use of Proceeds
  
 Defaults Upon Senior Securities
  
 Submissions of Matters to a Vote of Security Holders
  
 Other Information
  
 Exhibits
  ExhibitNo.
    
    Description
    
    Method of Filing3(a)
    
    Limited Partnership Agreement, amended
and restated as of December 28, 1995
    
    *3(b)
    
    Certificate of Limited Partnership
    
    **10
    
    Form of Leasing Agent Agreement with
Cronos Containers Limited
    
    ***17A
    
    Appointment and Confirmation of
Officers and Audit Committee of CCC
    
    Filed with this document31.1
    
    Rule 13a-14 Certification
    
    Filed with this document31.2
    
    Rule 13a-14 Certification
    
    Filed with this document32
    
    Section 1350 Certification
    
    Filed with this document
****
 
 *
    
    Incorporated by reference to Exhibit A to the Prospectus of the Partnership 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)****
    
    This certification, required by Section 906 of the Sarbanes-Oxley Act of 2002, other than as
required by Section 906, is not to be deemed filed with the Commission or subject to the
rules and regulations promulgated by the Commission under the Securities Exchange Act of 1934,
as amended, or to the liabilities of Section 18 of said Act. 17




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##### Table of Contents



SIGNATURES
  CRONOS GLOBAL INCOME FUND XVI, L.P.By
    Cronos Capital Corp.The General PartnerBy
    /s/ Peter J. YoungerPeter J. YoungerPresident and Chief Executive Officer of Cronos
Capital Corp. (CCC)
Principal Executive Officer of CCCBy
    /s/ Frank P. VaughanFrank P. VaughanChief Financial Officer and
Director of Cronos Capital Corp. (CCC)
Principal Financial and Accounting Officer of CCC  18




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##### Table of Contents



EXHIBIT INDEX
 ExhibitNo.
    
    Description
    
    Method of Filing3(a)
    
    Limited Partnership Agreement, amended
and restated as of December 28, 1995
    
    *3(b)
    
    Certificate of Limited Partnership
    
    **10
    
    Form of Leasing Agent Agreement with
Cronos Containers Limited
    
    ***17A
    
    Appointment and Confirmation of
Officers and Audit Committee of CCC
    
    Filed with this document31.1
    
    Rule 13a-14 Certification
    
    Filed with this document31.2
    
    Rule 13a-14 Certification
    
    Filed with this document32
    
    Section 1350 Certification
    
    Filed with this document ****
 
 *
    
    Incorporated by reference to Exhibit A to the Prospectus of the Partnership 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)****
    
    This certification, required by Section 906 of the Sarbanes-Oxley Act of 2002, other than as
required by Section 906, is not deemed to be filed with the Commission or subject to the
rules and regulations promulgated by the Commission under the Securities Exchange Act of 1934,
as amended, or to the liabilities of Section 18 of said Act.