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Samudera Shipping Line reports a surge of 354.5pc in H1 net profit
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Posttime:2022-08-01
SINGAP0RE-BASED and Indonesian-owned regional carrier Samudera Shipping Line has reported a 354.5 per cent growth in net profit of US$172.4 million for the half year ended June 30, 2022, compared to net earnings of $37.9 million in the same period last year.
Revenue rose 127.8 per cent $476.2 million, compared to $209.1 million a year ago, driven by higher revenue contribution from all its business segments.
The company expects to gain from higher freight rates over the medium term. It said that "freight rates are expected to remain higher than pre-pandemic levels due to the lag in container vessel supply to meet demand."
Samudera also said that it is growing its market presence in the tanker sector and will be taking delivery of another chemical tanker in the fourth quarter, reports Hellenic Shipping News.
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