##### Table of Contents



SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

|    |  |                                                                                                                                      
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------
|[X] |  | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2002

OR

|      |  |                                                                                                                                  
|----- |  | ---------------------------------------------------------------------------------------------------------------------------------
|[   ] |  | 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 0-23158

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

|                                                                          |                                                
|------------------------------------------------------------------------- | -----------------------------------------------
|California
(State or other jurisdiction of
incorporation or organization) | 94-3163375
(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  [X].    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                                                     
|SIGNATURES                             
|EXHIBIT INDEX                          



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CRONOS GLOBAL INCOME FUND XIV, L.P.

Report on Form 10-Q for the Quarterly Period
Ended March 31, 2002

TABLE OF CONTENTS

|        |   |                                                                                         |  |      |    | 
|------- | - | --------------------------------------------------------------------------------------- |  | ---- | -- | 
|        |   |                                                                                         |  | PAGE
|        |   |                                                                                         |  |     
|PART I  |  | FINANCIAL INFORMATION                                                                   |  |     
|       
|Item 1. |   | Financial Statements                                                                    |  |     
|       
|        |   | Balance Sheets  March 31, 2002 and December 31, 2001 (unaudited)                       |  |      | 4  | 
|       
|        |   | Statements of Operations for the three months ended March 31, 2002 and 2001 (unaudited) |  |      | 5  | 
|       
|        |   | Statements of Cash Flows for the three months ended March 31, 2002 and 2001 (unaudited) |  |      | 6  | 
|       
|        |   | Notes to Financial Statements (unaudited)                                               |  |      | 7  | 
|       
|Item 2. |   | Managements Discussion and Analysis of Financial Condition and Results of Operations   |  |      | 12 | 
|       
|Item 3. |   | Quantitative and Qualitative Disclosures About Market Risk                              |  |      | 15 | 
|       
|PART II |  | OTHER INFORMATION                                                                       |  |     
|       
|Item 6. |   | Exhibits and Reports on Form 8-K                                                        |  |      | 16 | 

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PART I  FINANCIAL INFORMATION




Item 1.   Financial Statements

| |                                                                                                                                                                                                                                                               
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Presented herein are the Registrants balance sheets as of March 31, 2002
and December 31, 2001, statements of operations for the three months
ended March 31, 2002 and 2001, and statements of cash flows for the three
months ended March 31, 2002 and 2001.

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CRONOS GLOBAL INCOME FUND XIV, L.P.




Balance Sheets

(Unaudited)

|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |              |            |            |  | 
|----------------------------------- | --------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | ----------------------- | ----------------- | ---------- | ---------- | ---------- | ------------ | ---------- | ---------- |  | 
|                                    |                                                                                                                                   |                                |                         |                   |            | March 31,  |            | December 31,
|                                    |                                                                                                                                   |                                |                         |                   |            | 2002       |            | 2001        
|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |             
|                                    |                                                                                                                                   |                                |                         | Assets            |            |            |            |              |            |            |  | 
|Current assets:                     |                                                                                                                                   |                                |                         |                   |            |            |            |             
|                                    | Cash and cash equivalents, includes $1,692,649 at March 31, 2002 and
$1,605,354 at December 31, 2001 in interest-bearing accounts |                                | $                       | 1,709,435         |            |            | $          | 1,620,354    |           
|                                    | Net lease receivables due from Leasing Company
(notes 1 and 2)                                                                    |                                |                         | 410,745           |            |            |            | 386,002      |           
|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |             
|                                    |                                                                                                                                   |                                | Total current assets    |                   |            | 2,120,180  |            |              |            | 2,006,356  | 
|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |             
|Container rental equipment, at cost |                                                                                                                                   |                                | 47,323,133              |                   |            |            | 47,825,021 |             
|                                    | Less accumulated depreciation                                                                                                     |                                |                         | 24,145,347        |            |            |            | 23,707,013   |           
|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |             
|                                    |                                                                                                                                   | Net container rental equipment |                         |                   | 23,177,786 |            |            |              | 24,118,008 |           
|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |             
|                                    |                                                                                                                                   |                                | Total assets            |                   | $          | 25,297,966 |            |              | $          | 26,124,364 | 
|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |             
|                                    |                                                                                                                                   |                                |                         | Partners Capital |            |            |            |              |            |            |  | 
|Partners capital (deficit):        |                                                                                                                                   |                                |                         |                   |            |            |            |             
|                                    | General partner                                                                                                                   |                                | $                       | (162,574          | )          |            | $          | (130,751     | )         
|                                    | Limited partners                                                                                                                  |                                |                         | 25,460,540        |            |            |            | 26,255,115   |           
|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |             
|                                    |                                                                                                                                   |                                | Total partners capital |                   | $          | 25,297,966 |            |              | $          | 26,124,364 | 
|                                    |                                                                                                                                   |                                |                         |                   |            |            |            |             

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

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CRONOS GLOBAL INCOME FUND XIV, L.P.




Statements of Operations

(Unaudited)

|                                                      |                                           |                               |          |                    |          |           |         |         |         | 
|----------------------------------------------------- | ----------------------------------------- | ----------------------------- | -------- | ------------------ | -------- | --------- | ------- | ------- | ------- | 
|                                                      |                                           |                               |          | Three Months Ended
|                                                      |                                           |                               |          |                   
|                                                      |                                           |                               |          | March 31,          |          | March 31,
|                                                      |                                           |                               |          | 2002               |          | 2001     
|                                                      |                                           |                               |          |                    |          |          
|Net lease revenue (notes 1 and 3)                     |                                           | $                             | 698,809  |                    |          | $         | 959,668 |        
|Other operating expenses:                             |                                           |                               |          |                    |          |           |         |        
|                                                      | Depreciation                              |                               |          | 706,958            |          |           |         | 760,850 |        
|                                                      | Other general and administrative expenses |                               |          | 30,354             |          |           |         | 49,275  |        
|                                                      | Net loss on disposal of equipment         |                               |          | 91,092             |          |           |         | 28,634  |        
|                                                      |                                           |                               |          |                    |          |           |         |        
|                                                      |                                           |                               | 828,404  |                    |          |           | 838,759 |        
|                                                      |                                           |                               |          |                    |          |           |         |        
|                                                      |                                           | (Loss) income from operations |          |                    | (129,595 | )         |         |         | 120,909 | 
|Other income:                                         |                                           |                               |          |                    |          |           |         |        
|                                                      | Interest income                           |                               |          | 5,248              |          |           |         | 19,881  |        
|                                                      |                                           |                               |          |                    |          |           |         |        
|                                                      |                                           | Net (loss) income             |          | $                  | (124,347 | )         |         | $       | 140,790 | 
|                                                      |                                           |                               |          |                    |          |           |         |        
|Allocation of net (loss) income:                      |                                           |                               |          |                    |          |           |         |        
|                                                      | General partner                           |                               | $        | (1,243             | )        |           | $       | 39,105  |        
|                                                      | Limited partners                          |                               |          | (123,104           | )        |           |         | 101,685 |        
|                                                      |                                           |                               |          |                    |          |           |         |        
|                                                      |                                           | $                             | (124,347 | )                  |          | $         | 140,790 |        
|                                                      |                                           |                               |          |                    |          |           |         |        
|Limited partners per unit share
of net (loss) income |                                           | $                             | (0.04    | )                  |          | $         | 0.03    |        
|                                                      |                                           |                               |          |                    |          |           |         |        

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

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CRONOS GLOBAL INCOME FUND XIV, L.P.




Statements of Cash Flows

(Unaudited)

|                                                     |                                     |   |                    |          |           |   |           |            |  
|---------------------------------------------------- | ----------------------------------- | - | ------------------ | -------- | --------- | - | --------- | ---------- | -
|                                                     |                                     |   | Three months Ended
|                                                     |                                     |   |                   
|                                                     |                                     |   | March 31,          |          | March 31,
|                                                     |                                     |   | 2002               |          | 2001     
|                                                     |                                     |   |                    |          |          
|Net cash provided by operating activities            |                                     | $ | 649,876            |          |           | $ | 914,802   |           
|Cash provided by investing activities:               |                                     |   |                    |          |           |   |           |           
|                                                     | Proceeds from disposal of equipment |   |                    | 141,256  |           |   |           | 66,044     |  
|Cash used in financing activities:                   |                                     |   |                    |          |           |   |           |           
|                                                     | Distribution to partners            |   |                    | (702,051 | )         |   |           | (1,055,457 | )
|                                                     |                                     |   |                    |          |           |   |           |           
|Net increase (decrease) in cash and cash equivalents |                                     |   | 89,081             |          |           |   | (74,611   | )         
|Cash and cash equivalents at January 1               |                                     |   | 1,620,354          |          |           |   | 1,706,333 |           
|                                                     |                                     |   |                    |          |           |   |           |           
|Cash and cash equivalents at March 31                |                                     | $ | 1,709,435          |          |           | $ | 1,631,722 |           
|                                                     |                                     |   |                    |          |           |   |           |           

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

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CRONOS GLOBAL INCOME FUND XIV, L.P.




Notes to Unaudited Financial Statements



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

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CRONOS GLOBAL INCOME FUND XIV, 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) | Container Rental Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|
| |     | SFAS No. 144, Accounting for the Impairment or Disposal of
Long-Lived Assets, was adopted by the Partnership effective January 1,
2002, without a significant impact on its financial statements. In
accordance with SFAS No. 144, 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. Depreciation policies are also evaluated to
determine whether subsequent events and circumstances warrant revised
estimates of useful lives. Because the Partnership evaluates future cash
flows and potential impairment by container type rather than for each
individual container, 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 to the
carrying value of container rental equipment for the three-month periods
ended March 31, 2002 and 2001.
|
| |     | In the second quarter of 2001, the Leasing Company undertook a review of
the Partnerships refrigerated container equipment. The purpose of the
review was to consider recent changes in the marketplace and economic
environment and to identify the consequences, if any, from an accounting
perspective. The Leasing Company identified a number of issues that had
an impact on the carrying value of certain equipment at June 30, 2001.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|
| |     | i.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|
| |     | ii.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|
| |     | iii.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

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CRONOS GLOBAL INCOME FUND XIV, L.P.

Notes to Unaudited Financial Statements

| | (d) | Container Rental Equipment (continued)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| |     | The Leasing Company considered the impact of these factors in June 2001
and decided to change the current marketing strategy for R12 Containers.
The Leasing Company concluded that effective July 1, 2001, inventories of
R12 Containers would be targeted for immediate sale. The Leasing Company
also conducted a review of R12 Containers that were on lease at June 30,
2001.                                                                                                                                                                                                                                                                                    
|
| |     | Assets to be disposed of:In June 2001 the Leasing Company committed to a
plan to dispose of 81 R12 Containers with a carrying value of $1,029,674.
It was concluded that the carrying value of these R12 containers
exceeded fair value and accordingly, an impairment charge of $811,424 was
recorded to operations under impairment losses. It is expected that
these R12 Containers will be will be disposed of over the next several
quarters. During the three-month period ended March 31, 2002, the
Partnership sold one refrigerated container which was targeted for sale
as of June 30, 2001. The Partnership recognized a gain of $1,750 on this
container.
|
| |     | Assets to be held and used:The Leasing Company conducted a review of 210
R12 Containers with a carrying value of $2,529,995 that were on lease at
June 30, 2001. It was concluded that the carrying value of these R12
Containers exceeded the future cash flows expected to result from the use
of these containers and their eventual disposition, and therefore was not
recoverable. Accordingly, in June 2001, a charge of $1,588,661 was
recorded to operations under impairment losses. Fair value was
determined by discounting future expected cash flows.                                                                                                    
|
| |     | Container rental equipment is depreciated using the straight-line
basis. Effective June 1, 2001, the estimated depreciable life was
changed from a twelve-year life to a fifteen-year life and the estimated
salvage value was changed from 30% to 10% of the original equipment cost.
The effect of these changes is an increase to depreciation expense of
approximately $16,400 from January 1 to March 31, 2002.                                                                                                                                                                                                                                                  
|
| | (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 preparation of financial statements 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 period presented. The results of
operations for such interim periods are not necessarily indicative of the
results to be expected for the full year.                                                                                                                                                                                                                                                             

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CRONOS GLOBAL INCOME FUND XIV, 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, as well as proceeds earned from container disposals. Net lease
receivables at March 31, 2002 and December 31, 2001 were as follows:

|                                               |  |           |           |              |  |   |           | 
|---------------------------------------------- |  | --------- | --------- | ------------ |  | - | --------- | 
|                                               |  | March 31, |           | December 31,
|                                               |  | 2002      |           | 2001        
|                                               |  |           |           |             
|Gross lease receivables                        |  | $         | 1,134,284 |              |  | $ | 1,108,942 | 
|Less:                                          |  |           |           |              |  |   |           | 
|Direct operating payables and accrued expenses |  |           | 458,164   |              |  |   | 437,081   | 
|Damage protection reserve                      |  |           | 49,467    |              |  |   | 45,251    | 
|Base management fees payable                   |  |           | 113,170   |              |  |   | 121,095   | 
|Reimbursed administrative expenses             |  |           | 19,009    |              |  |   | 22,982    | 
|Allowance for doubtful accounts                |  |           | 83,729    |              |  |   | 96,531    | 
|                                               |  |           |           |              |  |   |           | 
|Net lease receivables                          |  | $         | 410,745   |              |  | $ | 386,002   | 
|                                               |  |           |           |              |  |   |           | 



|(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-month period ended March 31,
2002 and 2001 were as follows:

|                                    |  |                    |           |           |  |   |           | 
|----------------------------------- |  | ------------------ | --------- | --------- |  | - | --------- | 
|                                    |  | Three Months Ended
|                                    |  |                   
|                                    |  | March 31,          |           | March 31,
|                                    |  | 2002               |           | 2001     
|                                    |  |                    |           |          
|Rental revenue (note 4)             |  | $                  | 1,168,534 |           |  | $ | 1,464,638 | 
|Less:                               |  |                    |           |           |  |   |           | 
|Rental equipment operating expenses |  |                    | 322,707   |           |  |   | 329,631   | 
|Base management fees                |  |                    | 79,755    |           |  |   | 100,775   | 
|Reimbursed administrative expenses  |  |                    | 67,263    |           |  |   | 74,564    | 
|                                    |  |                    |           |           |  |   |           | 
|Net lease revenue                   |  | $                  | 698,809   |           |  | $ | 959,668   | 
|                                    |  |                    |           |           |  |   |           | 

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CRONOS GLOBAL INCOME FUND XIV, L.P.

Notes to Unaudited Financial Statements



|(4) | Operating Segment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|    | 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 that as such it has
a single reportable operating segment.
|   
|    | The Partnership derives its revenues from leasing marine cargo containers.
As of March 31, 2002, the Partnership operated 8,055 twenty-foot, 3,382
forty-foot and 209 forty-foot high-cube marine dry cargo containers, as well
as 501 twenty-foot and 271 forty-foot marine refrigerated cargo containers.
A summary of gross lease revenue, by product, for the three-month period
ended March 31, 2002 and 2001 follows:                                                                                                                                      

|                        |  |                    |           |           |  |   |           | 
|----------------------- |  | ------------------ | --------- | --------- |  | - | --------- | 
|                        |  | Three Months Ended
|                        |  |                   
|                        |  | March 31,          |           | March 31,
|                        |  | 2002               |           | 2001     
|                        |  |                    |           |          
|Dry cargo containers    |  | $                  | 814,836   |           |  | $ | 985,829   | 
|Refrigerated containers |  |                    | 353,698   |           |  |   | 478,809   | 
|                        |  |                    |           |           |  |   |           | 
|Total                   |  | $                  | 1,168,534 |           |  | $ | 1,464,638 | 
|                        |  |                    |           |           |  |   |           | 

|    | 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.                                                                                                                                                                                                                                                                                                                                  
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|(5) | 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. The
Registrant is currently evaluating the impact that SFAS No. 143 will have on
its financial statements.

******

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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

A Leasing Agent Agreement exists between the Registrant and the Leasing
Company, 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. At March 31, 2002, 92% of the original
equipment remained in the Registrants fleet, as compared to 93% December 31,
2001. The following chart summarizes the composition of the Registrants fleet
(based on container type) at March 31, 2002.

|                      |                        |          |       |            |       |              |       |           |       |         |     |           |     |  |     |     |     |         |     |     |     | 
|--------------------- | ---------------------- | -------- | ----- | ---------- | ----- | ------------ | ----- | --------- | ----- | ------- | --- | --------- | --- |  | --- | --- | --- | ------- | --- | --- | --- | 
|                      |                        |          |       | Dry Cargo  |       | Refrigerated
|                      |                        |          |       | Containers |       | Containers  
|                      |                        |          |       |            |       |             
|                      |                        |          |       |            |       |              |       |           |       |         |     | 40-Foot   |     |  |     |     |     | 40-Foot
|                      |                        |          |       | 20-Foot    |       | 40-Foot      |       | High-Cube |       | 20-Foot |     | High-Cube
|                      |                        |          |       |            |       |              |       |           |       |         |     |          
|Containers on lease:  |                        |          |       |            |       |              |       |           |       |         |     |           |     |  |     |     |     |         |     |    
|                      | Master lease           |          |       | 2,973      |       |              |       | 992       |       |         |     | 97        |     |  |     | 173 |     |         |     | 37  |    
|                      | Term lease (1-5 years) |          |       | 2,927      |       |              |       | 1,184     |       |         |     | 49        |     |  |     | 217 |     |         |     | 130 |    
|                      |                        |          |       |            |       |              |       |           |       |         |     |           |     |  |     |     |     |         |     |    
|                      |                        | Subtotal |       |            | 5,900 |              |       |           | 2,176 |         |     |           | 146 |  |     |     | 390 |         |     |     | 167 | 
|Containers off lease  |                        |          | 2,155 |            |       |              | 1,206 |           |       |         | 63  |           |     |  | 111 |     |     |         | 104 |    
|                      |                        |          |       |            |       |              |       |           |       |         |     |           |     |  |     |     |     |         |     |    
|Total container fleet |                        |          | 8,055 |            |       |              | 3,382 |           |       |         | 209 |           |     |  | 501 |     |     |         | 271 |    
|                      |                        |          |       |            |       |              |       |           |       |         |     |           |     |  |     |     |     |         |     |    

|                                  |                |  |            |     |              |  |           |   |         |  |         |     |   |  |       |   |   |  |         |   |   |  |     |   |   |  |     |    |  |  |     |   |   |  |     |    |  |  |     |    |  
|--------------------------------- | -------------- |  | ---------- | --- | ------------ |  | --------- | - | ------- |  | ------- | --- | - |  | ----- | - | - |  | ------- | - | - |  | --- | - | - |  | --- | -- |  |  | --- | - | - |  | --- | -- |  |  | --- | -- | -
|                                  |                |  | Dry Cargo  |     | Refrigerated
|                                  |                |  | Containers |     | Containers  
|                                  |                |  |            |     |             
|                                  |                |  |            |     |              |  |           |   |         |  |         |     |   |  |       |   |   |  | 40-Foot |   |   |  |     |   |   |  |     |    |  |  |     |   |   |  |    
|                                  |                |  | 20-Foot    |     | 40-Foot      |  | High-Cube |   | 20-Foot |  | 40-Foot
|                                  |                |  |            |     |              |  |           |   |         |  |        
|                                  |                |  | Units      |     | %            |  | Units     |   | %       |  | Units   |     | % |  | Units |   | % |  | Units   |   | %
|                                  |                |  |            |     |              |  |           |   |         |  |         |     |   |  |       |   |   |  |         |   |  
|Total purchases                   |                |  | 8,778      |     |              |  | 100       | % |         |  | 3,612   |     |   |  | 100   | % |   |  | 216     |   |   |  | 100 | % |   |  | 511 |    |  |  | 100 | % |   |  | 350 |    |  |  | 100 | % 
|                                  | Less disposals |  |            | 723 |              |  |           | 8 | %       |  |         | 230 |   |  |       | 6 | % |  |         | 7 |   |  |     | 3 | % |  |     | 10 |  |  |     | 2 | % |  |     | 79 |  |  |     | 23 | %
|                                  |                |  |            |     |              |  |           |   |         |  |         |     |   |  |       |   |   |  |         |   |   |  |     |   |   |  |     |    |  |  |     |   |   |  |     |    |  |  |     |   
|Remaining fleet at
March 31, 2002 |                |  | 8,055      |     |              |  | 92        | % |         |  | 3,382   |     |   |  | 94    | % |   |  | 209     |   |   |  | 97  | % |   |  | 501 |    |  |  | 98  | % |   |  | 271 |    |  |  | 77  | % 
|                                  |                |  |            |     |              |  |           |   |         |  |         |     |   |  |       |   |   |  |         |   |   |  |     |   |   |  |     |    |  |  |     |   |   |  |     |    |  |  |     |   

During 2001, demand for dry cargo containers was adversely affected by the
slowdown in the global economy resulting in an excess supply of containers in
many locations. As a result of increasing worldwide container inventories
during 2001, cautious forecasts for global economic recovery and a reduction in
the level of capital available for new production, the demand for new container
production declined. Accordingly, prices for new containers reached historic
lows, creating further downward pressure on lease per-diem rates and container
residual values.

At the end of 2001, the Registrant, CCC and the Leasing Company viewed this
slowdown in new container production as having positive short and long-term
effects for the container leasing industry. During the first quarter of 2002,
the reduction in the level of funding for new container production, as well as
a general improvement in the worlds economic climate, contributed to a decline
in the level of off-hire container inventories for both leasing companies and
shipping lines. During this period, the Registrant experienced an increase in
demand for its dry cargo containers. The average monthly utilization of the
Registrants dry cargo fleet increased from 66% in December 2001 to 69% in
March 2002. At April 30, 2002, utilization of the Registrants dry cargo fleet
had increased to approximately 72%. However, lease per-diem rates, which are
influenced by new container prices and borrowing rates, remain depressed. An
improvement in lease per-diem rates is not expected until new container prices
increase to much higher levels. The Registrant, CCC and the Leasing Company
expect the demand for cargo containers to continue to strengthen into the
second quarter of 2002. The Leasing Company, on behalf of the Registrant, will
seek to exploit the improving demand by repositioning off-hire equipment to
locations of greatest demand and by pursuing leasing opportunities through the
Leasing Companys global marketing network.

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Continued improvement throughout the latter part of 2002 will be dependent on
the recovery and sustained growth of the global economy.

Despite recent improvements in container leasing market conditions, the effect
of the slowdown in global economic conditions on the container leasing
industrys customers, the shipping lines, coupled with their acquisition of
new, larger container ships, have created a condition of excess shipping
capacity. The uncertainty over the financial strength of the shipping industry
appears to favor the larger more established shipping lines. The Registrant,
CCC and the Leasing Company continue to remain cautious, with the expectation
that some shipping lines, especially those involved with trans-Pacific trade,
may experience financial difficulty, insolvency, or consolidation and
ultimately influence the demand for leased containers. Although the ultimate
outcome, as well as its impact on the container leasing industry and the
Registrants results of operations is unknown, CCC, on behalf of the
Registrant, will work closely with the Leasing Company to monitor outstanding
receivables, collections, and credit exposure to various existing and new
customers.

The Registrants average fleet size and utilization rates for the three-month
periods ended March 31, 2002 and March 31, 2001 were as follows:

|                                                                    |                         |  |                    |        |           |  |  |        |  
|------------------------------------------------------------------- | ----------------------- |  | ------------------ | ------ | --------- |  |  | ------ | -
|                                                                    |                         |  | Three Months Ended
|                                                                    |                         |  |                   
|                                                                    |                         |  | March 31,          |        | March 31,
|                                                                    |                         |  | 2002               |        | 2001     
|                                                                    |                         |  |                    |        |          
|Average fleet size (measured in twenty-foot
equivalent units (TEU)) |                         |  |                    |        |           |  |  |       
|                                                                    | Dry cargo containers    |  |                    | 15,369 |           |  |  | 15,694 |  
|                                                                    | Refrigerated containers |  |                    | 1,046  |           |  |  | 1,067  |  
|Average utilization rates                                           |                         |  |                    |        |           |  |  |       
|                                                                    | Dry cargo containers    |  |                    | 67     | %         |  |  | 69     | %
|                                                                    | Refrigerated containers |  |                    | 71     | %         |  |  | 80     | %

Dry cargo container average per-diem rental rates for the three-month period
ended March 31, 2002 declined approximately 19%, when compared to the same
three-month period in the prior year. Refrigerated container average per-diem
rental rates for the three-month period ended March 31, 2002 decreased
approximately 12%, when compared to the same three-month period in the prior
year.

The primary component of the Registrants results of operations is net lease
revenue. Net lease revenue is determined by deducting direct operating
expenses, management fees and reimbursed administrative expenses, from rental
revenues billed by the Leasing Company from the leasing of the Registrants
containers. Net lease revenue is directly related to the size, utilization and
per-diem rental rates of the Registrants fleet.

Three Months Ended March 31, 2002 Compared to the Three Months Ended March 31,
2001

Income (loss) from operationsfor the three months ended March 31, 2002 was a
loss of $129,595, as compared to income of $120,909 during the corresponding
period of 2001. The loss was primarily due to the cumulative effect of the
impact of current market constraints on utilization and per-diem rental rates,
and the Registrants smaller fleet size.

Net lease revenueof $698,809 for the three months ended March 31, 2002 was
$260,859 lower than the corresponding period of 2001. The decrease was due to
a $296,104 decline in gross rental revenue (a component of net lease revenue)
from the same period in 2001. Gross rental revenue was impacted by the
Registrants slightly smaller fleet size, lower utilization and per-diem rental
rates. Other components of net lease revenue, including management fees and
reimbursed administrative expenses, were lower by $28,321 when compared to the
corresponding period in 2001, and partially offset the decline in gross lease
revenue. Rental equipment operating expenses decreased $6,924 when compared to
the corresponding period in 2001. Contributing to the decrease in rental
equipment operating expenses were lower repair and maintenance expenses,
partially offset by increases in handling costs and the provision for doubtful
accounts.

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Depreciation expenseof $706,958 for the three-month period March 31, 2002 was
$53,892 lower than the same period in 2001 due to a declining fleet size.
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
$16,400 for the three-month period ended March 31, 2002.

Other general and administrative expensesdecreased to $30,354 in the first
quarter of 2002, from $49,275 in the corresponding period of 2001, a decrease
of $18,921. Contributing to this decrease was the reduction of net exchange
rates losses.

Net loss on disposal of equipmentwas a result of the Registrant disposing of
146 containers during the three-month period ended March 31, 2002, as compared
to 39 containers during the same period in 2001. These disposals resulted in a
loss of $91,092 for the three-month period ended March 31, 2002, as compared to
a loss of $28,634 for the three-month period ended March 31, 2001. The
Registrant believes that the net loss on container disposals in the three-month
period ended March 31, 2002 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. There were no reductions to the carrying value of
container rental equipment during the three-month periods ended March 31, 2002
and 2001.

Liquidity and Capital Resources

Cash from Operating Activities:Net cash provided by operating activities was
$649,876 and $914,802 during the first three months of 2002 and 2001,
respectively, primarily generated from the billing and collections of net lease
revenue.

Cash from Investing Activities:Net cash provided by investing activities
during the three-month periods ending March 31, 2002 and 2001, included sales
proceeds generated from the sale of rental equipment of $141,256 and $66,044,
respectively.

Cash from Financing Activities:Net cash used in financing activities was
$702,051 during the first three months of 2002 compared to $1,055,457 in the
corresponding period of 2001. These amounts represent distributions to the
Registrants general and limited partners. The Registrants container
disposals, as well as current market conditions, should 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.

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 generate
distributions to its general and limited partners, as well as to finance
current operating needs. No credit lines are maintained to finance working
capital.

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. The Registrant is currently
evaluating the impact that SFAS No. 143 will have on its financial statements.

Inflation

The Registrant believes inflation has not had a material adverse effect on the
results of its operations.

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##### Table of Contents






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.

The Leasing Company may hedge 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 Registrant and Leasing Company, there can be no assurance that
such fluctuations will not adversely affect its results of operations and
financial condition.

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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 2, 1992 |  | *               
|       
|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
March 31, 2002.



---

|*   |  | Incorporated by reference to Exhibit A to the Prospectus of the
Registrant dated December 2, 1992, included as part of Registration
Statement on Form S-1 (No. 33-51810)
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|   
|   
|   
|**  |  | Incorporated by reference to Exhibit 3.2 to the Registration Statement on
Form S-1 (No. 33-51810)                                                                         
|   
|   
|   
|   
|*** |  | Incorporated by reference to Exhibit 10.2 to the Registration Statement
on Form S-1 (No. 33-51810)                                                                        

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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 XIV, L.P.
|
| | By                                  | Cronos Capital Corp.
The General Partner                                                                                                          
|
| | By                                  | /s/ Dennis J. Tietz
Dennis J. Tietz
President and Director of Cronos Capital Corp. (CCC)
Principal Executive Officer of CCC                     
|
| | By                                  | /s/ John Kallas
John Kallas
Chief Financial Officer and
Director of Cronos Capital Corp. (CCC)
Principal Financial and Accounting Officer of CCC

Date: May 10, 2002

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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 2, 1992 |  | *               
|       
|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 2, 1992, included as part of Registration
Statement on Form S-1 (No. 33-51810)
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|   
|   
|   
|**  |  | Incorporated by reference to Exhibit 3.2 to the Registration Statement on
Form S-1 (No. 33-51810)                                                                         
|   
|   
|   
|   
|*** |  | Incorporated by reference to Exhibit 10.2 to the Registration Statement
on Form S-1 (No. 33-51810)                                                                        

18